(Bloomberg) -- New Zealand's dollar rose against
the U.S. currency as gains in U.S. stocks gave investors
confidence to buy the nation's higher-yielding assets with money
borrowed in countries with lower interest rates, such as Japan.
The local dollar, known as the kiwi, has risen 6.4 percent
this year as investors have put on so-called carry trades, lured
by the second-highest interest rates among AAA-rated countries.
The appeal of holding New Zealand dollar-denominated securities
was boosted after the yield on 10-year U.S. Treasuries yesterday
fell from a five-year high.
Read more at Bloomberg Currencies News
the U.S. currency as gains in U.S. stocks gave investors
confidence to buy the nation's higher-yielding assets with money
borrowed in countries with lower interest rates, such as Japan.
The local dollar, known as the kiwi, has risen 6.4 percent
this year as investors have put on so-called carry trades, lured
by the second-highest interest rates among AAA-rated countries.
The appeal of holding New Zealand dollar-denominated securities
was boosted after the yield on 10-year U.S. Treasuries yesterday
fell from a five-year high.
Read more at Bloomberg Currencies News
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