Australian dollar and New Zealand dollar stage fresh advances against the UK currency; but Eurozone situation remains fluid

Details

Category: Australian Dollar News

Written by Sam Coventry

"This evening sees the release of the RBA’s monetary policy meeting minutes, which should clarify the central bank’s interest rate outlook" - Caxton FX.

Risk appetite has been given another push by the Greek result and the Australian dollar (Currency:AUD)  inevitably tracked those gains.

That said, the situation in Europe is fluid and already, come mid-morning in London, gains are being erased.

The pound Australian dollar currency pair is 0.25 pct in the red at 1.5534 at 10:35 AM in London. Please see the latest FX forecasts on our IMT site, access is free via this Facebook entrance path.



Asian equities jumped higher last night as immediate Greek concerns were lifted.

However, GBP-AUD pair remains off last Friday morning’s lows, with the AUD having come under considerably selling pressure in risk averse trading conditions heading into a very risky weekend.

"This evening sees the release of the RBA’s monetary policy meeting minutes, which should clarify the central bank’s interest rate outlook. For now though, this pair is trading at 1.5550," says a morning FX briefing from Caxton FX.

The pound New Zealand dollar exchange rate is 0.66 pct down at 1.9814.

The New Zealand dollar (Currency:NZD) continues to be the key outperformer at present, as this pair posts fresh one-month lows.

Quarterly New Zealand consumer sentiment data showed a decline last night but the NZD continues to march on, helped last night but decent risk appetite.

The Caxton briefing says:

"The story of safe-haven demand for kiwi assets is also providing plenty of support for the NZD.

"Sterling is trading below 1.98 this morning and further major losses seem unlikely given the doubts that remain with regard to the eurozone."