(Bloomberg) -- The Australian and New Zealand
dollars gained versus the yen and pared losses against the U.S.
currency as investors were attracted to higher-yielding assets.
The two currencies are the world's biggest gainers this
month as Japan's 0.5 percent benchmark interest rate spurs so-
called carry trades, where investors borrow yen to buy assets
with better returns. The currencies initially declined against
the U.S. dollar after the yield advantage of Australian and New
Zealand bonds over U.S. debt narrowed.
Read more at Bloomberg Currencies News
dollars gained versus the yen and pared losses against the U.S.
currency as investors were attracted to higher-yielding assets.
The two currencies are the world's biggest gainers this
month as Japan's 0.5 percent benchmark interest rate spurs so-
called carry trades, where investors borrow yen to buy assets
with better returns. The currencies initially declined against
the U.S. dollar after the yield advantage of Australian and New
Zealand bonds over U.S. debt narrowed.
Read more at Bloomberg Currencies News
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