(Bloomberg) -- The yen gained for a second day versus
the euro on concern losses from U.S. mortgages will prompt
investors to pare riskier investments funded by loans in Japan.
Traders reduced so-called carry trades, pushing up the yen
versus 15 of the 16 most-active currencies. Macquarie Bank Ltd.,
Australia's largest securities firm, said investors in some of
its funds may lose as much as 25 percent of their money, a day
after investment banks cut off credit lines to American Home
Mortgage Investment Corp. Asian and U.S. stocks dropped.
Read more at Bloomberg Currencies News
the euro on concern losses from U.S. mortgages will prompt
investors to pare riskier investments funded by loans in Japan.
Traders reduced so-called carry trades, pushing up the yen
versus 15 of the 16 most-active currencies. Macquarie Bank Ltd.,
Australia's largest securities firm, said investors in some of
its funds may lose as much as 25 percent of their money, a day
after investment banks cut off credit lines to American Home
Mortgage Investment Corp. Asian and U.S. stocks dropped.
Read more at Bloomberg Currencies News
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