The yen today rallied against high-yielding currencies as several bad news raised concern over the US economy, prompting investors to trim carry trades.
Weakening US housing market keeps investors nervous about investment in risky assets. A US report today showed inventory of unsold pre-owned US homes reached a 16-year peak in July. Also US home prices in the second quarter experienced the biggest decline in more than 20 years.
Barclays PLC denied a report in the Financial Times that it had hundreds of millions of dollars of exposure to failed debt funds.
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