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Print Print edition: 2012-02-18

Australian and New Zealand dollars climb

Published Updated

The Australian and New Zealand dollars climbed to multi-month peaks against a depressed yen and rose against their US counterpart on Friday as hopes for a Greek deal renewed support for risk trades. The Antipodean currencies surged to levels not seen since early August against the safe-haven yen following the Bank of Japan's recent surprise easing, which made the Japanese unit the funding currency of choice for carry trades.
The Aussie climbed as far as 85.48 yen, chalking up gains of more than 8 percent this year. It was last at 85.17. The kiwi followed, jumping to a high of 66.14 yen, up a whopping 10.6 percent this year.

Copyright Reuters, 2012

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