(Bloomberg) -- The yen traded near a record low
against the euro as a surge in global stocks encouraged investors
to borrow the currency to buy higher-yielding assets.
The Japanese yen headed for a second weekly drop as the
Nikkei 225 Stock Average rose by the most since May, following a
rally in the Dow Jones Industrial Average yesterday. The currency
also declined against the Australian dollar, a favorite for so-
called carry trades because of its 6.25 percent benchmark rate.
Read more at Bloomberg Currencies News
against the euro as a surge in global stocks encouraged investors
to borrow the currency to buy higher-yielding assets.
The Japanese yen headed for a second weekly drop as the
Nikkei 225 Stock Average rose by the most since May, following a
rally in the Dow Jones Industrial Average yesterday. The currency
also declined against the Australian dollar, a favorite for so-
called carry trades because of its 6.25 percent benchmark rate.
Read more at Bloomberg Currencies News
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