Australian and New Zealand Dollars Climb to Highest in Around Two Decades

(Bloomberg) -- The Australian and New Zealand
dollars rose to the highest in around two decades as investors
were attracted to the yield advantage of the countries' bonds
over U.S. debt.

The two currencies are the world's biggest gainers this
month as New Zealand's 8 percent interest rate and Australia's
6.25 percent benchmark, draw overseas investors. Those rates
compare to 5.25 percent in the U.S. and Japan's 0.5 percent. The
yield advantage of Australian two-year bonds over equivalent U.S.
Treasuries is the widest in six weeks and New Zealand's premium
is the most in two weeks.


Read more at Bloomberg Currencies News