(Bloomberg) -- The New Zealand dollar rose the most
in two weeks as concern about the impact of the U.S. subprime
mortgage market on the global economy diminished, prompting
traders to return to riskier assets.
So-called carry trades, where investors borrow cheaply in
yen to buy higher-yielding assets elsewhere, have boosted the
New Zealand dollar 27 percent in the past 12 months. The
currency, known as the kiwi, slid yesterday after Moody's
Investors Service cut ratings on $5.2 billion of U.S. subprime
home mortgage bonds.
Read more at Bloomberg Currencies News
in two weeks as concern about the impact of the U.S. subprime
mortgage market on the global economy diminished, prompting
traders to return to riskier assets.
So-called carry trades, where investors borrow cheaply in
yen to buy higher-yielding assets elsewhere, have boosted the
New Zealand dollar 27 percent in the past 12 months. The
currency, known as the kiwi, slid yesterday after Moody's
Investors Service cut ratings on $5.2 billion of U.S. subprime
home mortgage bonds.
Read more at Bloomberg Currencies News
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