(Bloomberg) -- New Zealand's dollar traded near the
strongest in almost 20 years against the yen as investors were
attracted to returns from the nation's higher yields.
The currency has gained 31 percent against the yen in the
past 12 months, buoyed by so-called carry trades where investors
borrow yen at lower interest rates to buy higher-yielding assets
elsewhere. The Bank of Japan kept its benchmark rate at 0.5
percent last week, the lowest among major economies and 7.5
percentage points below New Zealand's key rate.
Read more at Bloomberg Currencies News
strongest in almost 20 years against the yen as investors were
attracted to returns from the nation's higher yields.
The currency has gained 31 percent against the yen in the
past 12 months, buoyed by so-called carry trades where investors
borrow yen at lower interest rates to buy higher-yielding assets
elsewhere. The Bank of Japan kept its benchmark rate at 0.5
percent last week, the lowest among major economies and 7.5
percentage points below New Zealand's key rate.
Read more at Bloomberg Currencies News
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