European carmakers sweat out yen drop vs euro

Newswire

FRANKFURT, Aug 28 (Reuters) - The euro's rise to record highs against the yen is heaping more pressure on European carmakers who have complained for months about the effects of what they call an undervalued Japanese currency. The euro hit a peak close to 150 yen on Monday as markets awaited U.S. data that could confirm the Federal Reserve's moderating growth outlook, amid expectations the Bank of Japan would take its time raising interest rates. A weak yen lets Japanese carmakers keep ...

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