August 04, 2008
Dollar dips vs yen as carry trades trimmed
Posted by: Thinker : Category: News
TOKYO: The dollar dipped against the yen on Monday as falling global stocks and a sharp shift in expectations for Australian interest rates prompted investors to unwind carry trades favouring higher-yielding currencies. But the dollar held near a five-week high against the euro struck last week after data showed US companies cut fewer workers than expected in July, providing some hope that the battered economy is stabilising. The US currency has staged a broad recovery as mounting signs of a broader global economic slowdown has prompted investors…
http://worldnews.com
