(Bloomberg) -- The New Zealand dollar rose to the
highest since it was floated in 1985 and Australia's dollar
gained to a five-week high on speculation investors bought the
nations' higher-yielding assets with money from Japanese loans.
The currencies reached a more than 15-year high against the
yen as U.S. and Japanese stock markets gained, encouraging
investors to put on so-called carry trades. The Nikkei 225 Stock
Average advanced for a fourth day and equity markets in South
Korea and Taiwan also climbed, even as Chinese shares slumped.
Read more at Bloomberg Currencies News
highest since it was floated in 1985 and Australia's dollar
gained to a five-week high on speculation investors bought the
nations' higher-yielding assets with money from Japanese loans.
The currencies reached a more than 15-year high against the
yen as U.S. and Japanese stock markets gained, encouraging
investors to put on so-called carry trades. The Nikkei 225 Stock
Average advanced for a fourth day and equity markets in South
Korea and Taiwan also climbed, even as Chinese shares slumped.
Read more at Bloomberg Currencies News
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