(Bloomberg) -- New Zealand's dollar rose against the
U.S. currency as gains in U.S. stocks gave investors confidence
to buy higher-yielding assets with money borrowed in countries
with lower interest rates, such as Japan.
The local dollar, known as the kiwi, has risen 7 percent
this year as investors put on so-called carry trades, lured by
the second-highest interest rates among AAA-rated countries. The
appeal of holding New Zealand dollar-denominated securities was
boosted after the yield on 10-year U.S. Treasuries yesterday fell
from a five-year high.
Read more at Bloomberg Currencies News
U.S. currency as gains in U.S. stocks gave investors confidence
to buy higher-yielding assets with money borrowed in countries
with lower interest rates, such as Japan.
The local dollar, known as the kiwi, has risen 7 percent
this year as investors put on so-called carry trades, lured by
the second-highest interest rates among AAA-rated countries. The
appeal of holding New Zealand dollar-denominated securities was
boosted after the yield on 10-year U.S. Treasuries yesterday fell
from a five-year high.
Read more at Bloomberg Currencies News
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