USD And Yen Decline Against New Zealand and Australian Currencies

The US Dollar and the Yen weakened against the currencies of Australia and New Zealand after the reports of a faster job growth in Australia and New Zealand.

New Zealand’s currency surged 1.3 percent to 72.83. US cents and the Australian Dollar rose 0.73 percent to 91.53 US cents. The fall in the USD was also attributed to investors seeking higher-yielding assets owing to the prospects of higher rates. The Yen fell against higher-yielding currencies. Asian stocks like Honda Motor Co., Ltd. (ADR) (NYSE: HMC) fell, which was reflected in the 0.7 per cent fall of Morgan Stanley Asia Pacific Index.