Opened at $1.0670 in Asia after lows in NY of Friday of $1.0640. The pair slipped to $1.0666 in early trade this morning before heading up with the EUR/USD on optimism that the Greek vote would pass. The move was extended to $1.0725 before talk of asian sovereign EUR/USD sales weighed and returned aussie back to $1.0687. Heavy buying from a macro fund after the positive Greek vote helped a stronger recovery through stops at $1.0730 to highs of $1.0749 before running into better offers. Firmer Asian equity markets and broader strength in some commodities also backed up the rally. Offers are seen up towards $1.0765/70 with more above at 1.0780/00 and $1.0815/25. AUD/JPY rallied sharply from Y82.73 to Y83.40 following the AUD/USD rally. Aussie-kiwi traded a NZ$NZ$1.2865-1.2916 range, but remains on a heavy footing. EUR/AUD slipped from A$1.2378 to A$1.2331 after another rally above A$1.2400 was rejected last week.
EasyForexNews Research Team