Monday, 13 February 2017

The Euro Was Down, Australian Dollar Was Little Changed

The euro was down 0.2 percent at $1.0621 EUR=, dipping close to Friday's 3-1/2-week low of $1.0608.


he common currency fell 1.3 percent last week, its biggest weekly loss in three months, as political risks rose on the back of election concerns in countries such as France and Germany. Resurfacing Greek debt woes further hurt confidence towards the euro zone.

Elsewhere, the New Zealand dollar inched up 0.1 percent to $0.7203 NZD=D4. It continued to edge away from a 2-1/2-week low of $0.7172 struck Thursday after the Reserve Bank of New Zealand (RBNZ) signaled that it would keep interest rates at record lows for two years.

"The RBNZ has clearly knocked the New Zealand dollar lower. However, we still find it difficult to get overly bearish given a still solid economic picture," wrote Philip Borkin, senior economist at ANZ.

The Australian dollar was little changed at $0.7671 AUD=D4 after surging 0.7 percent on Friday on upbeat Chinese trade data and an optimistic economic view given by the Reserve Bank of Australia. A rise above $0.7696 would take the Aussie to a three-month high.

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