Yen falls on US Government bailout |
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The Yen dropped sharply on Monday after the US government announced that they were taking control of mortgage companies Fannie Mae and Freddie Mac. The takeover of the two largest mortgage financiers has caused investors to take loans in Yen and buy higher yielding assets. The Japanese currency fell by the most in 6 months against the ‘Kiwi’ and the ‘Aussi’ as speculators bet that global stock markets would rally on the US news. Meanwhile in London Cable was slightly off the lowest level since
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