(Bloomberg) -- The Australian dollar rose to its
highest in almost 16 years against the yen and is headed for a
weekly gain as investors are lured to the nation's higher
yielding assets.
So-called carry trades have lifted Australia's currency,
known as the Aussie, 23 percent against the yen the past year,
with investors attracted to a benchmark rate 5.75 percentage
points higher than Japan's, the lowest of major economies. The
Bank of Japan left borrowing costs unchanged last week and said
in its May minutes any increases would be ``gradual,'' spurring
bets the key rate won't be boosted this year.
Read more at Bloomberg Currencies News
highest in almost 16 years against the yen and is headed for a
weekly gain as investors are lured to the nation's higher
yielding assets.
So-called carry trades have lifted Australia's currency,
known as the Aussie, 23 percent against the yen the past year,
with investors attracted to a benchmark rate 5.75 percentage
points higher than Japan's, the lowest of major economies. The
Bank of Japan left borrowing costs unchanged last week and said
in its May minutes any increases would be ``gradual,'' spurring
bets the key rate won't be boosted this year.
Read more at Bloomberg Currencies News
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