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Politics : Welcome to Slider's Dugout
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To: Richard D who wrote (4686)3/9/2007 1:46:13 AM
From: paul ross  Read Replies (1) of 50744
 
"The yen has rocketed in a move known as a "short-covering squeeze", rising almost 6pc against the euro and the dollar in a week. Many funds that borrowed at near-zero rates in Japan to chase higher yields abroad are able to close bets at a profit, but some may be forced to liquidate positions - starting a chain reaction through other asset markets, such as gold..."

(Sorry if this post is a repeat.)

telegraph.co.uk
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