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Australian greenback rose

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Category: Forex

The Australian greenback rose to a six-week excessive against the U.S. currency as the MSCI Asia Pacific Index of shares gained 0.7 p.c and the Stoxx Europe 600 Index advanced 0.6 percent.

“The Aussie has popped in a really brief-time period market reaction,” mentioned Sacha Tihanyi, a senior currency strategist at Scotiabank in Hong Kong. With Obama poised to start one other four-12 months term, “the constant strategy that might be executed by the present administration is positive. The one factor we don’t want lately is uncertainty.”

The Australian currency gained 0.2 p.c to $1.0453 after rising to $1.0480, the strongest since Sept. 21.

Euro Features

The euro superior for a second day versus the greenback as Greek lawmakers prepared to vote on austerity measures needed to keep its bailout on track.

The 238 pages of extra austerity plans, ranging from raising the retirement age to eliminating vacation funds for pensioners, will be debated by the Greek parliament right now with a roll-name vote expected after eight p.m. today. Approval is the first ofthe parliamentary votes required by Nov. 12 to unlock a 31 billion-euro portion of worldwide aid.
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