Japan's Hunt For Yield Continues
The yen headed for its worst week since 1999 on speculation Prime Minister Shinzo Abe’s stimulus plan will weaken the currency and as better-than-expected Chinese economic data sapped demand for havens. The Japanese currency has declined 4.9 percent against the greenback this week, the worst performer among the 16 major currencies tracked by Bloomberg. Its one-month historical volatility rose to its highest since December 2008 on Thursday. The South Korean won rose after China reported economic growth and industrial production that beat estimates. UBS Head of UK Rates Strategy John Wraith discusses with Bloomberg's and Mark Barton on "The Pulse."
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Toshiba's Board Agrees to Sell Chip Unit for $18 Billion
54:59 - Toshiba's board agreed to sell its flash memory chip unit to a group led by Bain Capital for 2 trillion yen ($18 billion), taking an important step toward ending a contentious bidding process that has stretched over eight months. Bloomberg's Peter Elstrom reports on "Bloomberg Daybreak: Asia." (Source: Bloomberg)