(Bloomberg) -- The Icelandic krona fell for a fourth
day against the dollar as risk-averse investors cut their
positions in the so-called carry trade.
The krona is the fourth worst-performer over the past five
days, shedding 4 percent of its value, as investors unwound
trades where they'd bought the currency to take advantage of the
second-highest interest rates of industrialized economies.
Investors pulled out of riskier investments on concern losses on
U.S. subprime mortgages may spread to the global economy.
Read more at Bloomberg Currencies News
day against the dollar as risk-averse investors cut their
positions in the so-called carry trade.
The krona is the fourth worst-performer over the past five
days, shedding 4 percent of its value, as investors unwound
trades where they'd bought the currency to take advantage of the
second-highest interest rates of industrialized economies.
Investors pulled out of riskier investments on concern losses on
U.S. subprime mortgages may spread to the global economy.
Read more at Bloomberg Currencies News
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