(Bloomberg) -- The Australian dollar gained to an
18-year high as the yield spread between the nation's two-year
bonds and Treasuries stayed near the widest in two months.
The currency gained a fourth day before a government report
that's expected by economists to show retail sales accelerated
in May, which may add to speculation the Reserve Bank of
Australia will raise interest rates. Investors sold the U.S.
dollar amid concern losses in the subprime mortgage sector may
weaken the housing market and spill into the broader economy.
Read more at Bloomberg Currencies News
18-year high as the yield spread between the nation's two-year
bonds and Treasuries stayed near the widest in two months.
The currency gained a fourth day before a government report
that's expected by economists to show retail sales accelerated
in May, which may add to speculation the Reserve Bank of
Australia will raise interest rates. Investors sold the U.S.
dollar amid concern losses in the subprime mortgage sector may
weaken the housing market and spill into the broader economy.
Read more at Bloomberg Currencies News
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