(Bloomberg) -- The Australian dollar gained to an 18-
year high as the yield spread between the nation's two-year bonds
and Treasuries stayed near the widest in two months.
The currency climbed for a fourth day before a government
report that's expected by economists to show retail sales
accelerated in May, which may add to speculation the Reserve Bank
of Australia will raise interest rates this year. Investors sold
the U.S. dollar on concern rising mortgage defaults will weaken
the housing market and spill into the broader economy.
Read more at Bloomberg Currencies News
year high as the yield spread between the nation's two-year bonds
and Treasuries stayed near the widest in two months.
The currency climbed for a fourth day before a government
report that's expected by economists to show retail sales
accelerated in May, which may add to speculation the Reserve Bank
of Australia will raise interest rates this year. Investors sold
the U.S. dollar on concern rising mortgage defaults will weaken
the housing market and spill into the broader economy.
Read more at Bloomberg Currencies News
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