The yen also gained as Japanese exporters bought the currency to settle their books on the last trading day of the fiscal half year. The European Central Bank's key borrowing cost is 4 percent, while the Bank of Japan's is 0. Futures contracts yesterday showed 90 percent odds the Fed would lower its target by a quarter point to 4. Fannie Mae Chief Executive Officer Daniel Mudd said yesterday the housing slump will last beyond next year, increasing credit losses. The yen has fallen against all 16 of the most-actively traded currencies this week as Japanese investors sought higher- yielding assets overseas. Data earlier today showed Japan's core consumer prices, which exclude fresh food, dropped 0. read more
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