(Bloomberg) -- The Australian dollar advanced,
snapping five days of losses, as rising appetite for risky
investments lured traders to the nation's higher-yielding assets.
The currency gained as stock markets from China to the U.S.
climbed yesterday, suggesting investors are searching for better
returns. The local dollar has risen against 14 of the 16 most
active currencies this year as investors have been attracted to
Australia's key borrowing cost at a six-year high of 6.25
percent, 1 percentage point above the equivalent U.S. rate and
5.75 percentage points more than in Japan.
Read more at Bloomberg Currencies News
snapping five days of losses, as rising appetite for risky
investments lured traders to the nation's higher-yielding assets.
The currency gained as stock markets from China to the U.S.
climbed yesterday, suggesting investors are searching for better
returns. The local dollar has risen against 14 of the 16 most
active currencies this year as investors have been attracted to
Australia's key borrowing cost at a six-year high of 6.25
percent, 1 percentage point above the equivalent U.S. rate and
5.75 percentage points more than in Japan.
Read more at Bloomberg Currencies News
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