Monday, July 2, 2007

Yen Rebounds Against Euro as U.K. Terror Attacks Spark Risk Aversion

(Bloomberg) -- The yen rebounded from a record low
versus the euro after terrorists targeted central London and
Glasgow, prompting investors to pare purchases of riskier assets.

Japan's yen advanced against 12 of the 16 most-actively
traded currencies tracked by Bloomberg as investors unwind so-
called carry trades. The yen also gained versus the dollar as the
Bank of Japan's Tankan report showed confidence among
manufacturers held near a two-year high, adding to expectations
the central bank will raise interest rates this year.


Read more at Bloomberg Currencies News

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