(Bloomberg) -- The Czech koruna posted its biggest
monthly gain since November 2005 as risk-averse investors unwound
carry trades funded in the currency.
The currency snapped a three-month losing streak in July as
investors withdrew from these trades, which took advantage of the
Czech Republic's 3 percent interest rate to buy higher-yielding
assets elsewhere. The koruna was the second best-performer
against the euro this month, just beating the Japanese yen, which
has the lowest rates among industrialized countries.
Read more at Bloomberg Currencies News
monthly gain since November 2005 as risk-averse investors unwound
carry trades funded in the currency.
The currency snapped a three-month losing streak in July as
investors withdrew from these trades, which took advantage of the
Czech Republic's 3 percent interest rate to buy higher-yielding
assets elsewhere. The koruna was the second best-performer
against the euro this month, just beating the Japanese yen, which
has the lowest rates among industrialized countries.
Read more at Bloomberg Currencies News
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