(Bloomberg) -- The Australian dollar rose to a 15-year
high against the yen as traders were attracted to the nation's
higher returns on investments.
The currency also climbed to the highest in two weeks versus
the U.S. dollar as gains in global stock markets encouraged
investors to take on more risk. Australia's interest rate is 5.75
percentage points more than the cost of borrowing in Japan.
Investors have taken advantage of such spreads to borrow at low
rates and buy higher yielding assets, in so-called carry trades.
Read more at Bloomberg Currencies News
high against the yen as traders were attracted to the nation's
higher returns on investments.
The currency also climbed to the highest in two weeks versus
the U.S. dollar as gains in global stock markets encouraged
investors to take on more risk. Australia's interest rate is 5.75
percentage points more than the cost of borrowing in Japan.
Investors have taken advantage of such spreads to borrow at low
rates and buy higher yielding assets, in so-called carry trades.
Read more at Bloomberg Currencies News
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