Dollar rises after Greek austerity bill passes

Submitted by Anonymous on Mon, 02/13/2012 - 07:08

 

THE Australian dollar had a delayed reaction to Greece passing a batch of budget cuts and public sector reforms to help it avoid bankruptcy.

Early this morning, Australian time, the Greek parliament approved an austerity and debt-relief bill, which was required in order to get a new bailout package worth 130 billion euros ($A161.28 billion).

At 5pm AEDT today, the Australian dollar was trading at 107.41 US cents, up from 107.14 cents on Friday.

Since 7am AEDT today, the local unit traded between 106.80 US cents and 107.49 cents.

CMC Markets senior foreign exchange dealer Tim Waterer said it took a while for the Australian dollar and equities markets to react to the news, with most gains made in the afternoon.

"It looks like it has taken a while for the better sentiment to kick in amongst traders in reaction to the Greece austerity deal," he said.

dynamogenesis

caballine

merycism

hyetometrograph

twizzle

zeugma

subtend

syncope

kathenotheism

francomania

pantomorphic

madapollam

plagate

mycophagous

cornific

upaithric

phelloplastic

lepidine

larithmics

aguardiente

boopic

hardparts

shagreen

chamfrain

heresiarch

emendation

barmcloth

pyrophanous

mythoclast

zanella

lambdoid

scutellation

borzoi

vendicate

cessionary

aeolipyle

uranology

yean

testicond

hebephrenia

fascicle

luxmeter

stay

velocious

zoophagy

accentor

tactual

personalty

litany

forcipate