The yen traded near the weakest in more than four years versus the dollar on speculation Japanese employees will use their summer bonuses to purchase overseas assets that offer higher yields.

Securities firms, asset management companies and banks in the latter part of June will market more than 1.5 trillion yen ($12.1 billion) of investment trusts aimed at luring Japanese investors to foreign securities, according to data compiled by Bloomberg. The yen traded close to a record low against the euro after minutes yesterday from the Bank of Japan’s April and May meetings suggested interest rates will rise “gradually.”

(Bloomberg)