FRX: Yen Gains on Speculation Japanese Investors Bringing Back Funds
The yen rose for a second day against the dollar and climbed versus the euro on speculation Japanese companies are bringing back earnings on overseas assets. The yen headed for its biggest weekly gain in a month against the dollar before the U.S. makes $79.2 billion in redemption and coupon payments for Treasuries on Aug. 17, according to estimates from Bank of Tokyo-Mitsubishi UFJ Ltd. The euro was poised for its first weekly loss versus the yen since July before a European report that economists said will show consumer prices fell. The Australian dollar rose to the highest since September as Asian stocks gained. “The yen is being bought as Japanese investors may bring home... Full Story
