(Bloomberg) -- The Australian dollar rose for the
second day against the U.S. currency and yen as investors were
attracted to the nation's higher yielding assets.
The currency was headed for the fifth-straight quarterly
advance against the U.S. dollar and yen on Australia's 6.25
percent interest rate. Traders have taken advantage of the yield
over Japan's 0.5 percent benchmark by borrowing money there and
buying Australia's higher returning assets, in a strategy known
as the carry trade.
Read more at Bloomberg Currencies News
second day against the U.S. currency and yen as investors were
attracted to the nation's higher yielding assets.
The currency was headed for the fifth-straight quarterly
advance against the U.S. dollar and yen on Australia's 6.25
percent interest rate. Traders have taken advantage of the yield
over Japan's 0.5 percent benchmark by borrowing money there and
buying Australia's higher returning assets, in a strategy known
as the carry trade.
Read more at Bloomberg Currencies News
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