(Bloomberg) -- Australia's dollar rose to a 17-year high and New Zealand's reached the strongest in almost two years as traders added to bets central banks will raise interest rates.
The New Zealand dollar is the world's biggest gainer in the past month, followed by Australia's, as the odds of a quarter- point rate increase climbed above 60 percent in both countries, according to a Credit Suisse index. Australia's benchmark is 5.75 percentage points more than Japan's and New Zealand has a 7 point advantage, attracting people who borrow yen to fund investments in so-called carry trades.
Read more at Bloomberg Currencies News
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