(Bloomberg) -- The yen slid versus the dollar as gains
in Asian stocks encouraged investors to borrow Japan's currency to
fund purchases of higher-yielding assets.
Shares in Shanghai and Shenzhen reversed drops, boosting
Asian stock markets, as investors bet China's economy will keep
growing even after the central bank raised interest rates for a
fourth time on May 18. The yen ended its rally today as investors
returned to the so-called carry trade on the view China's decision
to widen its trading band was only a political gesture ahead of a
meeting of U.S. and Chinese officials this week.
Read more at Bloomberg Currencies News
in Asian stocks encouraged investors to borrow Japan's currency to
fund purchases of higher-yielding assets.
Shares in Shanghai and Shenzhen reversed drops, boosting
Asian stock markets, as investors bet China's economy will keep
growing even after the central bank raised interest rates for a
fourth time on May 18. The yen ended its rally today as investors
returned to the so-called carry trade on the view China's decision
to widen its trading band was only a political gesture ahead of a
meeting of U.S. and Chinese officials this week.
Read more at Bloomberg Currencies News
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