(Bloomberg) -- The Australian and New Zealand dollars fell the most in three weeks against the yen as investors sold higher-returning assets on declines in global stocks.
New Zealand's dollar was the second-worst performer in the Asia-Pacific and Australia's third after Indonesia's rupiah, as Asian share markets followed U.S. equities, which yesterday dropped the most in almost two months. That caused traders to pare positions in so called carry trades, where higher-yielding assets are bought with lower-interest currencies such as the yen.
Read more at Bloomberg Currencies News
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