(Bloomberg) -- The New Zealand and Australian dollars
reached a more than 15-year high against the yen on speculation
the currencies remained favorites for so-called carry trades.
The two Asia-Pacific currencies led gains among 15 of the 16
most-actively traded currencies versus the yen as investors
borrow at Japan's low interest rates to purchase assets elsewhere
that offer bigger returns. The New Zealand dollar rose to the
highest since it was floated in 1985 against its U.S. counterpart
and the Australian dollar climbed to a five-week high.
Read more at Bloomberg Currencies News
reached a more than 15-year high against the yen on speculation
the currencies remained favorites for so-called carry trades.
The two Asia-Pacific currencies led gains among 15 of the 16
most-actively traded currencies versus the yen as investors
borrow at Japan's low interest rates to purchase assets elsewhere
that offer bigger returns. The New Zealand dollar rose to the
highest since it was floated in 1985 against its U.S. counterpart
and the Australian dollar climbed to a five-week high.
Read more at Bloomberg Currencies News
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