Both Australian and New Zealand currencies benefited from the speculations that the Japanese authorities will have to use currency intervention to hold down the yen’s growth.
The Aussie and kiwi gained also as the Asian stock markets demonstrated a growth today following days of decline (as a result of the global macroeconomic situation). The currencies were rising yesterday when the Japan’s officials commented on the inappropriate growth of the yen. They were both in the downtrend since the beginning of the month.
AUD/USD rose from 0.8851 to 0.8871 as of 8:23 GMT today. AUD/JPY went up from 74.87 to 75.12, while NZD/USD increased from 0.7021 to 0.7035
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