(Bloomberg) -- The Australian and New Zealand
dollars rebounded from an eight-week low versus the yen as a
recovery in U.S. stocks gave investors confidence to increase
holdings of higher-yielding assets bought with loans from Japan.
The currencies are favorites of the so-called carry trade
as New Zealand and Australian interest rates are among the
highest of major economies. The New Zealand and Australian
dollars are respectively the biggest gainers today against the
yen among the 16 most-traded currencies as U.S. stocks recovered
from the worst two-day loss since 2003.
Read more at Bloomberg Currencies News
dollars rebounded from an eight-week low versus the yen as a
recovery in U.S. stocks gave investors confidence to increase
holdings of higher-yielding assets bought with loans from Japan.
The currencies are favorites of the so-called carry trade
as New Zealand and Australian interest rates are among the
highest of major economies. The New Zealand and Australian
dollars are respectively the biggest gainers today against the
yen among the 16 most-traded currencies as U.S. stocks recovered
from the worst two-day loss since 2003.
Read more at Bloomberg Currencies News
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