Australian and N.Z. Dollars Rise to Highest Against Yen Since 2008

The Australian and New Zealand dollars rose to the strongest against the yen in more than four years as the Japanese currency tumbled on bets policy makers will work to push it down further to spur economic growth.

The Aussie dollar fell versus its U.S. counterpart after Australian employers unexpectedly cut payrolls last month. New Zealand's currency, nicknamed the kiwi, depreciated against the greenback before data that may show China's economic growth in the fourth quarter was close to the slowest since 2009. China is Australia's largest trading partner and New Zealand's second- biggest export destination.

“The key catalyst for the Aussie will be the outcome of China's numbers,” Richard Franulovich, a senior currency strategist at Westpac Banking Corp. in New York, said yesterday in a telephone interview.

Bloomberg

This article is for general information purposes only. It is not investment advice or a solution to buy or sell securities. Opinions are the authors; not necessarily that of OANDA Corporation or any of its affiliates, subsidiaries, officers or directors. Leveraged trading is high risk and not suitable for all. You could lose all of your deposited funds.