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Yen Rises as Carry Trade Evaporates... - 2008/10/27 18:59
Good day, traders! Ready to start the weekend in our favorite volatile markets? This time is my time! 
The yen rose more than 2 percent against the dollar for a second day, trading near a 13-year high, as tumbling stock markets prompted investors to sell higher-yielding assets funded with loans in Japan.
The yen climbed to 92.43 per dollar as of 9:23 a.m. in London, from 94.32 in New York on Oct. 24, when it touched a 13- year high of 90.93. Japan's currency strengthened to 114.30 per euro from 118.96 at the end of last week, when it reached 113.81, the strongest level since May 2002. The euro fell to $1.2366, the weakest in 2 1/2 years, from $1.2623.
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