(Bloomberg) -- The New Zealand dollar rose to the
highest in 22 years against the U.S. currency and to a 19-year
high versus the yen, on speculation the yield premium on the
nation's bonds to U.S. debt will widen further.
The yield advantage between New Zealand government two-year
bonds and similar-maturity Treasuries held near its widest in
seven weeks after the U.S. currency fell to a 26-year low against
the pound and its weakest versus the euro. The dollar declined on
concern losses in the subprime mortgage market may spill over
into the broader economy, adding to prospects the Federal Reserve
will leave interest rates unchanged this year.
Read more at Bloomberg Currencies News
highest in 22 years against the U.S. currency and to a 19-year
high versus the yen, on speculation the yield premium on the
nation's bonds to U.S. debt will widen further.
The yield advantage between New Zealand government two-year
bonds and similar-maturity Treasuries held near its widest in
seven weeks after the U.S. currency fell to a 26-year low against
the pound and its weakest versus the euro. The dollar declined on
concern losses in the subprime mortgage market may spill over
into the broader economy, adding to prospects the Federal Reserve
will leave interest rates unchanged this year.
Read more at Bloomberg Currencies News
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