(Bloomberg) -- The Australian and New Zealand
dollars headed for weekly losses against the yen as a slump in
global stocks prompted investors to reduce bets on higher-
yielding assets.
The currencies fell to the weakest in two weeks versus the
yen as Asian equities followed U.S. shares lower. Traders cut
so-called carry trades, where they borrow in countries with
lower interest rates to fund higher-yielding investments.
Australia's interest rate of 6.25 percent and New Zealand's 7.75
percent compare with Japan's 0.5 percent.
Read more at Bloomberg Currencies News
dollars headed for weekly losses against the yen as a slump in
global stocks prompted investors to reduce bets on higher-
yielding assets.
The currencies fell to the weakest in two weeks versus the
yen as Asian equities followed U.S. shares lower. Traders cut
so-called carry trades, where they borrow in countries with
lower interest rates to fund higher-yielding investments.
Australia's interest rate of 6.25 percent and New Zealand's 7.75
percent compare with Japan's 0.5 percent.
Read more at Bloomberg Currencies News
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