Aussie comes off recent highs
- Last Updated on 13 February 2012
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The Australian dollar saw some bearish movement to close out last week. The currency moved down against most of its major currency rivals, following negative euro-zone news that drove investors away from riskier assets. The AUD/USD closed Friday's session at 1.0671, well below the six-month high it reached earlier in the week. Against the Swiss franc, the AUD closed Friday at 0.9776, down over 100 pips from earlier in the week.
This week, Aussie movements will likely be determined by euro-zone news. Providing a Greek bailout agreement is agreed to in the coming days, the AUD could see a boost along with other riskier assets. That being said, any further negative news could drive investors back to safe-havens which may cause the AUD to drop further.