(Bloomberg) -- The Australian and New Zealand dollars
traded near the highest in more than 15 years against the yen on
speculation investors will buy the nations' higher-yielding assets
with money from Japanese loans.
Investors borrow yen in Japan, where the key borrowing cost
is 0.5 percent, to buy assets in New Zealand and Australia, where
rates are 7.75 percent and 6.25 percent, respectively. New
Zealand's dollar, the kiwi, was the biggest gainer versus the yen
among the 16 most-traded currencies this month, while Australia's
dollar was the third best performer after Canada's currency.
Read more at Bloomberg Currencies News
traded near the highest in more than 15 years against the yen on
speculation investors will buy the nations' higher-yielding assets
with money from Japanese loans.
Investors borrow yen in Japan, where the key borrowing cost
is 0.5 percent, to buy assets in New Zealand and Australia, where
rates are 7.75 percent and 6.25 percent, respectively. New
Zealand's dollar, the kiwi, was the biggest gainer versus the yen
among the 16 most-traded currencies this month, while Australia's
dollar was the third best performer after Canada's currency.
Read more at Bloomberg Currencies News
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