Yen Trades Near One-Week Low Against Dollar on Rising Stocks

March 25 (Bloomberg) -- The yen traded near a one-week low against the dollar on speculation rising Asian stocks will renew investors' confidence in higher-yielding currencies.

Japan's currency declined against the Australian and New Zealand dollars, two favorites of so-called carry trades, after JPMorgan Chase & Co. agreed to buy 39.5 percent of Bear Stearns Cos., increasing the chance that a Federal Reserve-sponsored bailout will succeed. The dollar traded near a two-week high against the euro on optimism U.S. interest rate cuts will support economic growth.


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