(Bloomberg) -- The Australian dollar climbed to a 15
1/2-year high against the yen on speculation investors are buying
the nation's higher-yielding assets with money borrowed in Japan.
The so-called carry trade, where investors take advantage of
Australia's 6.25 percent overnight cash rate target compared with
Japan's 0.5 percent key borrowing cost, also pushed the currency
toward an 18-year high against the U.S. dollar reached earlier
this month. Australia's dollar is the third-best performer of the
16 most-traded currencies in the past month.
Read more at Bloomberg Currencies News
1/2-year high against the yen on speculation investors are buying
the nation's higher-yielding assets with money borrowed in Japan.
The so-called carry trade, where investors take advantage of
Australia's 6.25 percent overnight cash rate target compared with
Japan's 0.5 percent key borrowing cost, also pushed the currency
toward an 18-year high against the U.S. dollar reached earlier
this month. Australia's dollar is the third-best performer of the
16 most-traded currencies in the past month.
Read more at Bloomberg Currencies News
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