(Bloomberg) -- The Australian dollar traded near
the strongest in 18 years against the U.S. currency and a 16-
year-high versus the yen on the attraction of the nation's
higher yields.
The local dollar is the third-best performer of the 16
most-active currencies in the past 12 months as investors have
taken advantage of Australia's yield advantage over Japan by
buying local assets with borrowed yen, as part of the so-called
carry trade. Australia's 6.25 percent interest rate compares
with 5.25 percent in the U.S. and Japan's 0.5 percent benchmark.
Read more at Bloomberg Currencies News
the strongest in 18 years against the U.S. currency and a 16-
year-high versus the yen on the attraction of the nation's
higher yields.
The local dollar is the third-best performer of the 16
most-active currencies in the past 12 months as investors have
taken advantage of Australia's yield advantage over Japan by
buying local assets with borrowed yen, as part of the so-called
carry trade. Australia's 6.25 percent interest rate compares
with 5.25 percent in the U.S. and Japan's 0.5 percent benchmark.
Read more at Bloomberg Currencies News
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