The dollars of Australia and New Zealand gained in value during the Tuesday trading session as monetary easing policies continued in the U.S. and Japan, Bloomberg reports.
Both Pacific nations' saw bond yields buoyed by stimulus programs in the U.S. and Japan. The Australian dollar pushed to its highest value in more than 48 months against the Japanese yen after the Bank of Japan last week doubled the size of its stimulus.
Dow Jones Newswires reports policy makers with the Reserve Bank of Australia are set to convene May 7, and one key official with the financial institution said the high value of the Aussie is of note.
"I would prefer a lower currency and it does pose some problems for us," board member John Edwards with the Reserve Bank of Australia told Dow Jones Newswires during a Tuesday interview. "But I don't think they're at all, at this point, the kinds of issues that require us to make a response."
Economic data indicating the increase of home prices prompted the New Zealand dollar to climb to its top price in six weeks against the Australian dollar, Bloomberg reports.
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