(Bloomberg) -- The Australian dollar traded near an
18-year high against the U.S. currency and the strongest in 16
years versus the yen on the nation's higher yielding assets.
Asian stocks rose to a record yesterday, suggesting
investors are prepared to buy higher returning assets overseas.
The currency has advanced 8.8 percent against the U.S. dollar
and 12 percent versus the yen this year as the Morgan Stanley
Capital International Asia Pacific Index of shares gained 11
percent. Australia's 6.25 percent interest rate compares to 5.25
percent in the U.S. and 0.5 percent in Japan.
Read more at Bloomberg Currencies News
18-year high against the U.S. currency and the strongest in 16
years versus the yen on the nation's higher yielding assets.
Asian stocks rose to a record yesterday, suggesting
investors are prepared to buy higher returning assets overseas.
The currency has advanced 8.8 percent against the U.S. dollar
and 12 percent versus the yen this year as the Morgan Stanley
Capital International Asia Pacific Index of shares gained 11
percent. Australia's 6.25 percent interest rate compares to 5.25
percent in the U.S. and 0.5 percent in Japan.
Read more at Bloomberg Currencies News
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