Guillermo
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Yen Rises - 2008/11/19 19:24
Hola, amigos!  The yen rose against the dollar as speculation U.S. lawmakers will fail to agree on a bailout for automakers cut demand for higher-yielding assets bought with funds borrowed in Japan.
The currency also gained against the Australian dollar and the British pound as a deepening global economic slump spurred stock losses in Asia and Europe. A $700 billion U.S. financial stability package isn't intended to prevent General Motors Corp., Ford Motor Co. and Chrysler LLC from collapsing, Treasury Secretary Henry Paulson said in a House hearing yesterday.
The yen rose to 96.85 against the dollar as of 10:49 a.m. in London from 97.03 yesterday in New York. It may strengthen to 90 by March, Barrow said. The currency rose to 122.29 per euro from 122.43. Against the dollar, the euro rose to $1.2628, from $1.2618. The pound slid 0.6 percent to $1.5045.
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