(Bloomberg) -- The Australian and New Zealand
dollars pared losses against the U.S. currency and gained versus
the yen as investors were attracted to the countries' higher
yields.
The two currencies are the world's biggest gainers this
month as Japan's 0.5 percent benchmark interest rate spurs so-
called carry trades, where investors borrow yen to buy higher-
returning assets. The currencies had declined earlier against
the U.S. dollar after the yield advantage of Australian and New
Zealand bonds over U.S. debt narrowed.
Read more at Bloomberg Currencies News
dollars pared losses against the U.S. currency and gained versus
the yen as investors were attracted to the countries' higher
yields.
The two currencies are the world's biggest gainers this
month as Japan's 0.5 percent benchmark interest rate spurs so-
called carry trades, where investors borrow yen to buy higher-
returning assets. The currencies had declined earlier against
the U.S. dollar after the yield advantage of Australian and New
Zealand bonds over U.S. debt narrowed.
Read more at Bloomberg Currencies News
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