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Yen Rises Amid Reflex to Exploit Subprime Woes

Mar 13,2007

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Yen gains across the board amid traders? direct reflex to buy in the currency on fresh news of struggling US sub-prime lenders meeting their obligations. Accredited Home Lenders Holding Co., said it will seek debt waivers and try to raise new funds after creditors demanded more funds to cover the risk of defaults. The company said it paid about 0 million in margin calls this year.  There are over 36 US sub-prime lenders who have either collapsed or are in difficulty, raising the risk
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