Commodity currency gains shore up A$, NZ$

London

COMMODITY currencies such as the Australian and New Zealand dollar spiked higher on Wednesday, as markets regained some appetite for risk after Britain's shock vote last week to leave the European Union sent investors in search of safety.

Riskier currencies had slid along with sterling and the euro in the wake of the "Brexit" referendum, while the safe-haven yen surged, and volatility persisted into Monday. But as equities and oil prices recovered, traders made less safe bets, emboldened by the absence of any big new political shocks.