Yen Falls Versus Euro, Dollar on Increased Appetite for Risk
March 15 (Bloomberg) -- The yen fell against the euro and the dollar on speculation investors resumed borrowing in the Japanese currency to invest in higher-yielding countries.
The yen dropped against all of the 16 most active currencies including the Australian and New Zealand dollars on expectations investors will resume what is known as the carry trade. U.S. stocks advanced for a second straight day.
``Equities are the leading indicator of investors' risk appetite right now and their willingness to re-establish the carry trade,'' said C.J. Gavsie, managing director for foreign- exchange trading in Toronto at BMO Capital Markets.
The yen fell 0.53 percent to 155.64 per euro and dropped 0.40 percent to 117.56 per dollar at 4:49 p.m. in New York.
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