(Bloomberg) -- The Australian dollar may decline,
snapping two days of gains, as the yield advantage of the nation's
government bonds over U.S. notes narrows.
The local dollar has fallen 1.9 percent from a 17-year high
reached April 19 as the yield spread between Australian and U.S.
two-year bonds shrunk to 1.41 percentage points from 1.65 points.
The currency also weakened from a one-week high on a drop in
prices of raw materials the country exports, which add about 14
percent to Australia's economic growth.
Read more at Bloomberg Currencies News
snapping two days of gains, as the yield advantage of the nation's
government bonds over U.S. notes narrows.
The local dollar has fallen 1.9 percent from a 17-year high
reached April 19 as the yield spread between Australian and U.S.
two-year bonds shrunk to 1.41 percentage points from 1.65 points.
The currency also weakened from a one-week high on a drop in
prices of raw materials the country exports, which add about 14
percent to Australia's economic growth.
Read more at Bloomberg Currencies News
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