Aussie Gains vs. Greenback & Euro, Falls vs. Yen
The Australian dollar rose against its US counterpart and climbed to the highest level since March versus the euro today. The currency declined against the Japanese yen, though trimmed its losses.
The Australian currency (often called “Aussie”) managed to rally today even amid uncertainty about the future of the eurozone ahead of the Greek elections this weekend and poor macroeconomic reports from the United States. Rumors about coordinated efforts of central banks prevented traders’ mood from turning to risk aversion, but Forex market participants were still rather uncertain about how to behave on unpredictable market. Anyway, sentiment was closer to optimism as was shown by the MSCI Asia Pacific Index of shares that gained 0.6 percent today.
The Aussie declined versus the yen, but that could be expected. The Japanese currency was simply too strong today after the Bank of Japan refrained from easing its monetary policy.
AUD/USD was up from 1.0024 to the daily maximum of 1.0089 (the highest level since May 10) as of 20:18 GMT today. EUR/AUD fell from 1.2598 to 1.2548, while today’s minimum of 1.2524 was the lowest since March 20. AUD/JPY declined from 79.51 to 79.38, while its intraday low was at 78.83.
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Earlier News About the Australian Dollar:
- Aussie Finds Support against Majors (2012-06-12)
- Australian Dollar Posts Weekly Gains, Reverses Downtrend (2012-06-09)
- Aussie Erases Losses as Market Sentiment Turns to Optimism (2012-06-08)
- Aussie Heads Higher on China Rate Cut (2012-06-07)
- Aussie Gains with Unexpectedly Growing Employment (2012-06-07)