(Bloomberg) -- The Australian dollar rose to the
highest in 17 years against the U.S. currency and in almost 16
years against the yen as investors were lured to the nation's
higher-yielding assets.
So-called carry trades have lifted Australia's currency,
known as the Aussie, 23 percent against the yen the past year,
with investors attracted to a benchmark rate 5.75 percentage
points higher than Japan's, the lowest of major economies. The
Bank of Japan left borrowing costs unchanged last week and said
in its May minutes any increases would be ``gradual,'' spurring
bets the key rate won't be boosted this year.
Read more at Bloomberg Currencies News
highest in 17 years against the U.S. currency and in almost 16
years against the yen as investors were lured to the nation's
higher-yielding assets.
So-called carry trades have lifted Australia's currency,
known as the Aussie, 23 percent against the yen the past year,
with investors attracted to a benchmark rate 5.75 percentage
points higher than Japan's, the lowest of major economies. The
Bank of Japan left borrowing costs unchanged last week and said
in its May minutes any increases would be ``gradual,'' spurring
bets the key rate won't be boosted this year.
Read more at Bloomberg Currencies News
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