May 15 (Bloomberg) -- Mellon Capital Management Corp. is wagering the Australian dollar, which dropped by a record last year against the greenback and yen, will rally the fastest among the world’s most-traded currencies as economies revive.
The Aussie dropped as much as 39 percent against the dollar and 47 percent against the yen between July and October as investors shunned the nation’s higher yields and dependence on commodity exports to China. It has advanced 12 percent against the dollar since China pledged $585 billion in stimulus spending on housing, highways, airports and power grids on Nov. 9.
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