Last night’s action saw yet another subdued international trading session with no major data impacting markets, or at least not enough to budge traders who remain steadfast in waiting for the outcome of the Greek debt deal negotiations.
The Aussie dollar settled a paltry 0.06% lower at this morning‘s NY close, buying US$1.0785.
Against the yen the local unit fared slightly better, adding 0.8% to settle at 83.78.
During today’s local session the Aussie has fallen from near six-month highs after the Reserve Bank lowered its forecasts for growth and inflation this year, boosting scope for policy makers to reduce interest rates.
Elsewhere in the region, the Kiwi dollar has held near its highest level against the US dollar in five months as Greece made progress in securing a second bailout package.
Overnight the euro reached a two-month high against the greenback and the yen on the Greek austerity agreement which allows the country access to further critical bailout funds.
The 17-nation currency added 1.1% against the yen to settle at 103.21, 0.2% against the greenback to settle at 1.3284, and 0.2% against the British pound to settle at 83.78.
The strength overnight sees the euro on track for a weekly gain, having strengthened against 15 of its 16 major counterparts so far this week.
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Currency Trading Commentary: February 10
The Aussie dollar settled a paltry 0.06% lower at this morning‘s NY close, buying US$1.0785.
Against the yen the local unit fared slightly better, adding 0.8% to settle at 83.78.
During today’s local session the Aussie has fallen from near six-month highs after the Reserve Bank lowered its forecasts for growth and inflation this year, boosting scope for policy makers to reduce interest rates.
Elsewhere in the region, the Kiwi dollar has held near its highest level against the US dollar in five months as Greece made progress in securing a second bailout package.
Overnight the euro reached a two-month high against the greenback and the yen on the Greek austerity agreement which allows the country access to further critical bailout funds.
The 17-nation currency added 1.1% against the yen to settle at 103.21, 0.2% against the greenback to settle at 1.3284, and 0.2% against the British pound to settle at 83.78.
The strength overnight sees the euro on track for a weekly gain, having strengthened against 15 of its 16 major counterparts so far this week.
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