(Reuters) - The comparatively high-yielding New Zealand dollar recovered all the losses it incurred on suspected central bank intervention late on Friday, striking a 22-year high against the dollar and climbing near to a 20-year peak against the yen.
Despite falls in equity markets fueled by rising global interest rates and renewed concern about the U.S. housing market, currency investors continued to put on carry trades, in which they borrowed in low-yielding currencies like the yen to fund purchases of higher-return units.
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Despite falls in equity markets fueled by rising global interest rates and renewed concern about the U.S. housing market, currency investors continued to put on carry trades, in which they borrowed in low-yielding currencies like the yen to fund purchases of higher-return units.
Read more at Reuters.com Hot Stocks News
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