(Bloomberg) -- The dollar rebounded from a record
low against the euro as a technical chart some investors use to
predict currency movements suggested its decline was too rapid.
The U.S. currency also pared losses against the yen after
European stocks rose, prompting some traders to use funds
borrowed in Japan to buy higher yielding assets elsewhere, known
as the carry trade. The dollar has dropped against 15 of the 16
most-actively traded currencies in the past month on concern
subprime mortgage defaults in the U.S. will hurt the economy.
Read more at Bloomberg Currencies News
low against the euro as a technical chart some investors use to
predict currency movements suggested its decline was too rapid.
The U.S. currency also pared losses against the yen after
European stocks rose, prompting some traders to use funds
borrowed in Japan to buy higher yielding assets elsewhere, known
as the carry trade. The dollar has dropped against 15 of the 16
most-actively traded currencies in the past month on concern
subprime mortgage defaults in the U.S. will hurt the economy.
Read more at Bloomberg Currencies News
No comments:
Post a Comment