The Japanese Yen traded on a 4-year low against the U.S. Dollar and an all-time low against the Euro due to building speculation that domestic workers are investing overseas for higher returns. ''Japan is having bonus season for employees,'' said Satoshi Tate, a senior vice president of the foreign-exchange division in Tokyo at Mizuho Corporate Bank Ltd., a unit of Japan's second- largest lender by assets. ''There's strong demand for yen selling, looking for high-yielders.'' Japan's low interest rates have encouraged a higher level of currency carry trades over the past few weeks.
In forex-trading, the Japanese Yen was at 123.65 per Dollar in comparison to a previous trade of 123.57 Japanese Yen. The Yen was 165.71 per Euro from 165.63. It had declined to an all-time low of 166.12 on June 19. The Australian Dollar has also reached a 15 year high against the Japanese Yen on June 14, buying 103.06 Yen.
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