(Bloomberg) -- The yen posted the biggest monthly
advance in almost three years against the dollar on concern
losses from U.S. subprime mortgages will drive investors from
riskier assets.
Japan's yen gained versus all 16 major currencies tracked by
Bloomberg this month as investors pared higher-yielding assets
funded by loans in Japan, a practice known as the carry trade.
U.S. stocks erased early gains and a gauge of corporate bond risk
increased, adding to yen buying today.
Read more at Bloomberg Currencies News
advance in almost three years against the dollar on concern
losses from U.S. subprime mortgages will drive investors from
riskier assets.
Japan's yen gained versus all 16 major currencies tracked by
Bloomberg this month as investors pared higher-yielding assets
funded by loans in Japan, a practice known as the carry trade.
U.S. stocks erased early gains and a gauge of corporate bond risk
increased, adding to yen buying today.
Read more at Bloomberg Currencies News
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