(Bloomberg) -- The yen fell to near a record low
against the euro and declined versus the dollar after minutes
from the Bank of Japan's May meeting said central bankers stuck
to a policy of raising interest rates ``gradually.''
Japan's currency also dropped to the weakest since September
1992 against the British pound and a two-decade low versus New
Zealand's dollar as fund managers increased investments using
borrowed yen in the so-called carry trade. Minutes from the Bank
of England added to speculation of an interest-rate increase as
soon as July, lifting the pound and adding to yen selling.
Read more at Bloomberg Currencies News
against the euro and declined versus the dollar after minutes
from the Bank of Japan's May meeting said central bankers stuck
to a policy of raising interest rates ``gradually.''
Japan's currency also dropped to the weakest since September
1992 against the British pound and a two-decade low versus New
Zealand's dollar as fund managers increased investments using
borrowed yen in the so-called carry trade. Minutes from the Bank
of England added to speculation of an interest-rate increase as
soon as July, lifting the pound and adding to yen selling.
Read more at Bloomberg Currencies News
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