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Australian and NZ dollars rise against the yen but fall against the dollar

The Australian dollar strengthened, marking a rebound after four consecutive sessions of declines. This recovery came after suspected intervention from Tokyo last week, which disrupted the popular carry trade, where investors borrow in a low-interest currency like the yen to invest in higher-yielding assets. The intervention saw the Aussie retreat from a 33-year high reached. Similarly, the New Zealand dollar also rose after a period of weakness. This movement indicates a renewed interest in the kiwi as traders adjusted their positions. Read more to find out why Australian and NZ dollars strengthened.

why Australian and NZ dollars strengthened

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Publication date:

2024-07-23 15:09:52 (GMT)

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