Guillermo
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Yen Drops Most in 3 Months - 2008/09/08 20:25
Hi traders! Monday is here, with plenty of oportunities to make a sweet extra buck 
The yen fell by the most in three months against the euro and dropped versus the dollar as the U.S. government's takeover of Fannie Mae and Freddie Mac prompted investors to buy higher-yielding assets.
The yen slumped by the most in six months against the Australian and New Zealand dollars, two favorites of so-called carry trades, as stocks rose on speculation support for the two mortgage companies will stem a crisis that has caused more than $500 billion of losses and writedowns. The dollar advanced against the euro for an eighth day.
The yen fell as much as 2.2 percent to 157 per euro, before trading at 154.37 at 8:09 a.m. in New York, from 153.67 on Sept. 5. It declined to 108.52 versus the dollar from 107.73. The euro was at $1.4217, from $1.4267. The pound advanced to $1.7626 from $1.7661. Against the dollar, the yen will fall to 109 yen, Klawitter said.
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