Djarum to Spend $300 Million on Palm Oil, Investor Daily Says

By Garfield Reynolds

April 27 (Bloomberg) -- The Australian dollar will advance against New Zealand’s, bolstered by Japanese investors who are favoring the larger nation’s currency as they buy assets abroad in search of greater yields, RBC Capital Markets said today in a note to clients.

Australia’s dollar traded at NZ$1.2676 as of 8:41 a.m. in Sydney, and has advanced 2.6 percent this month. The gains are being aided by expectations that New Zealand will lower benchmark interest rates at a more rapid pace than Australia, RBC analysts wrote.

To contact the reporter on this story: Garfield Reynolds in Sydney at greynolds1@bloomberg.net