(Bloomberg) -- Australia's dollar declined from the
strongest in 15 years against the yen after Reserve Bank of
Australia Governor Glenn Stevens said he has ``time'' to respond
to faster economic growth and inflation.
The currency retreated as traders pared bets the central
bank will increase the benchmark interest rate by November. The
cost of borrowing last week was left at 6.25 percent for a sixth
meeting. The Australian dollar initially rose against the yen as
a surge in U.S. stocks encouraged traders to buy higher-yielding
assets with money borrowed in Japan.
Read more at Bloomberg Currencies News
strongest in 15 years against the yen after Reserve Bank of
Australia Governor Glenn Stevens said he has ``time'' to respond
to faster economic growth and inflation.
The currency retreated as traders pared bets the central
bank will increase the benchmark interest rate by November. The
cost of borrowing last week was left at 6.25 percent for a sixth
meeting. The Australian dollar initially rose against the yen as
a surge in U.S. stocks encouraged traders to buy higher-yielding
assets with money borrowed in Japan.
Read more at Bloomberg Currencies News
No comments:
Post a Comment