(Bloomberg) -- The Australian dollar rose to a three-
week high as investors were attracted to higher yielding assets
and increasing prices for raw materials the nation exports.
The local dollar traded near the most in 15 years versus the
yen as investors were lured to Australia's 6.25 percent interest
rate, which compares with Japan's 0.5 percent. Australia's
currency gained a fourth day against the U.S. dollar as a measure
of six metals on the London Metal Exchange rose 1.6 percent to the
most in almost three weeks. Commodity exports add about 14 percent
to Australia's economic growth.
Read more at Bloomberg Currencies News
week high as investors were attracted to higher yielding assets
and increasing prices for raw materials the nation exports.
The local dollar traded near the most in 15 years versus the
yen as investors were lured to Australia's 6.25 percent interest
rate, which compares with Japan's 0.5 percent. Australia's
currency gained a fourth day against the U.S. dollar as a measure
of six metals on the London Metal Exchange rose 1.6 percent to the
most in almost three weeks. Commodity exports add about 14 percent
to Australia's economic growth.
Read more at Bloomberg Currencies News
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