(Bloomberg) -- The yen gained as a slump in Asian
stocks prompted traders to reduce investments in higher-yielding
assets funded by borrowing in Japan.
``Investors appear to be reducing risk, given the decline in
Asian shares,'' said Nobuaki Tani, a client manager of the Market
Trading Office at Resona Bank Ltd. in Tokyo. ``There's a risk
this stock weakness may spill over into European markets. The yen
is being bought.''
Read more at Bloomberg Currencies News
stocks prompted traders to reduce investments in higher-yielding
assets funded by borrowing in Japan.
``Investors appear to be reducing risk, given the decline in
Asian shares,'' said Nobuaki Tani, a client manager of the Market
Trading Office at Resona Bank Ltd. in Tokyo. ``There's a risk
this stock weakness may spill over into European markets. The yen
is being bought.''
Read more at Bloomberg Currencies News
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