(Bloomberg) -- The New Zealand and Australian dollars
pared losses against the yen as investors returned to their
higher-yielding assets on the prospect interest rates will rise.
The two currencies have led gains versus the yen in the past
12 months as Japan's lowest benchmark rate among major economies
spurs the investment in assets elsewhere that offer bigger
returns, known as a carry trade. Rising global interest rates are
pushing up bond yields, with New Zealand and Australia's 10-year
yields climbing to the highest since June, 2002.
Read more at Bloomberg Currencies News
pared losses against the yen as investors returned to their
higher-yielding assets on the prospect interest rates will rise.
The two currencies have led gains versus the yen in the past
12 months as Japan's lowest benchmark rate among major economies
spurs the investment in assets elsewhere that offer bigger
returns, known as a carry trade. Rising global interest rates are
pushing up bond yields, with New Zealand and Australia's 10-year
yields climbing to the highest since June, 2002.
Read more at Bloomberg Currencies News
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