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Yen Falls Amid Speculation of Month-End Selling by Importers

From bloomberg.com

he yen fell against all of its major counterparts on speculation Japanese importers are settling accounts overseas on the last trading day of the month. Japanese finance companies are seeking to raise at least 3.8 trillion yen ($41.7 billion) this week for toshin mutual funds focused on higher-yielding securities, according to Bloomberg data. The euro traded near an 11-month low against the Swiss franc after Standard & Poor’s and Moody’s Investors Service said Greece faces further downgrades. New Zealand’s dollar headed for a second monthly decline as a report showed that home-building approvals dropped for a ... (full story)

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