(Bloomberg) -- The Australian dollar advanced,
snapping five days of losses, as a rising appetite for risky
investments lured traders to the nation's higher yielding assets.
The currency rose as stock markets from China to the U.S.
climbed yesterday, suggesting investors are searching for higher
returning assets. The local dollar gained against 14 of the 16
most-actively traded currencies this year as investors have been
attracted to Australia's key borrowing cost at a six-year high of
6.25 percent, 1 percentage point above the U.S. rate.
Read more at Bloomberg Currencies News
snapping five days of losses, as a rising appetite for risky
investments lured traders to the nation's higher yielding assets.
The currency rose as stock markets from China to the U.S.
climbed yesterday, suggesting investors are searching for higher
returning assets. The local dollar gained against 14 of the 16
most-actively traded currencies this year as investors have been
attracted to Australia's key borrowing cost at a six-year high of
6.25 percent, 1 percentage point above the U.S. rate.
Read more at Bloomberg Currencies News
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