The Aussie dollar clawed back some of its losses in Asia yesterday climbing back above 91 cents as commodity prices steadied and the RBA painted a positive picture of the Australian economy. Following a brief exchange above 0. Also affecting the currencies heading into the weekend will be key data out of Japan and the U. S with developments in the Euro-zone still critical to global risk appetite.
UK retail sales recorded a 2. This proved to be a momentary gasp for air as the Sterling fell below 1. This morning the Pound once again opens lower at 1.
Meanwhile the Pound opens at 1. The robust economic growth boosted prospects for the central bank to raise interest rates, removing monetary stimulus. However investors pulled away from the Kiwi as the US reported improved jobless claims. Overnight German consumer confidence remains unchanged at 3. The announcement saw the Euro gain back some of its losses after falling below 1. News from the US capped the Euro around 1. EU leaders have reached an accord to provide Greece with unsubsidized loans to cover more than half the Greek debt with balance coming from the IMF.
Continued opposition by European Central Bank President Trichet has forced the Euro to fall sharply to a fresh 10 month low of 1. Investor anxiety continues to fuel a flight to US safety with the US dollar gaining the most against the Yen hitting Continued US strength has seen the Euro today at 1. Meanwhile the Yen opens at All rights reserved worldwide. This information has been prepared for distribution over the internet and without taking into account the investment objectives, financial situation and particular needs of any particular person.
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