Australian Dollar: The Australian Dollar opens steady today a shade under the US90 cent level. The local unit was buoyed during the domestic session on Monday on speculation members of the Eurozone were working on a proposal to support Greece. A strong day for the region’s equity markets also provided support to the currency which briefly hit an intraday high of 0.9014. During overnight trade, the unit gradually moved from a low of 0.8972 back towards resistance at 0.9000 despite an EU spokesperson stating there were no such plans to bail out Greece.
- I expect a range today in the AUD/USD rate of 0.8970 to 0.9040
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