(Bloomberg) -- The Australian dollar rose to the
strongest in 18 years on speculation losses at hedge funds run by
Bear Stearns Cos. will bolster demand for financial assets
outside of the U.S. that are perceived as safer.
The currency also rebounded to rise to a 16-year high versus
the yen after Bear Stearns told investors in one of its hedge
funds that they won't get any money back. Losses in U.S.
securities may push investors to buy assets in other countries
such as Australia, where the economy is improving. Government
bonds gained for a third day, while emerging-market debt fell.
Read more at Bloomberg Currencies News
strongest in 18 years on speculation losses at hedge funds run by
Bear Stearns Cos. will bolster demand for financial assets
outside of the U.S. that are perceived as safer.
The currency also rebounded to rise to a 16-year high versus
the yen after Bear Stearns told investors in one of its hedge
funds that they won't get any money back. Losses in U.S.
securities may push investors to buy assets in other countries
such as Australia, where the economy is improving. Government
bonds gained for a third day, while emerging-market debt fell.
Read more at Bloomberg Currencies News
No comments:
Post a Comment