Wednesday, 27 June 2007

Australia Dollar Rises Against Yen on Speculation Carry Trades to Continue

(Bloomberg) -- The Australian dollar rose against
the yen, snapping three days of declines, on speculation
investors will resume so-called carry trades.

The currency gained to 103.32 yen at 9:12 a.m. in Sydney
from 103.05 yen in late Asian trading yesterday. Australia's
dollar was at 83.93 U.S. cents, after trading as low as 83.56
cents, from 84.15 cents yesterday.


Read more at Bloomberg Currencies News

No comments: