7th February 2012
The Australian dollar (AUD) has benefited in forex trading from a surprise announcement by the Reserve Bank of Australia that the organisation is maintaining its rates at 4.25 per cent.
In addition, AUD has been bolstered by a decision by Greek ministers to delay a decision on the £170 million International Monetary Fund bailout package by a further 24 hours to midday today (February 7th).
"The euro is performing relatively well given the deadlines for Greece keep being extended. This suggests there's more risks of a move to the topside should a deal be agreed," Adrian Schmidt, currency strategist at Lloyds Banking Group, told Reuters.
As of 10:42 GMT, the euro stood at $1.3127, while AUD grew to A$1.2124 against the European single currency.
Yesterday, the euro fell in early trading as the midday deadline for the Greek deficit deal approached. The currency lost 0.6 per cent against the US dollar to stand at $1.307.
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