Aussie starts week on a bullish note
- Last Updated on 14 February 2012
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The Australian dollar was able to start off Monday's session on a positive note, following the downtrend it experienced to close out last week. The currency was able to recoup the losses it suffered against most of its main currency rivals on Friday, after positive Greek news boosted risk appetite in the marketplace. The AUD/USD peaked yesterday at 1.0776 before staging a slight downward correction. Against the Japanese yen, the Aussie gained over 60 pips before moving downward during mid-day trading.
Today, Aussie traders will want to focus on any additional announcements out of the euro-zone. Any positive news regarding Greece's prospects for receiving a fresh bailout is likely to boost riskier currencies like the AUD. At the same time, with some analysts convinced that even with a bailout Greece would still default on its debt, investors may choose to revert back to safe-haven assets tomorrow.