Gnutrade is all interesting. Its a Financial Game
The Yen rose against all 16 of the most-active currencies as credit-market losses encouraged the investors to cut holdings of higher-yielding assets funded in Japan.
The currency rose the most versus the Australian and New Zealand dollars, favorites for so-called carry trades, after UBS AG, Europe's largest bank by assets, reported a record loss because of mortgage-related write downs.
The dollar also snapped two days of gains versus the yen on speculation the Federal Reserve will cut interest rates by 50 basis points today. The sub prime problems don't seem to be fully resolved yet but the Investors are still very averse to taking on risk. It's a factor for buying the yen.
