The March Australian Dollar reversed course overnight and is now in a position to test Thursday’s
high at 1.0628. Yesterday the market broke slightly after trading this level, but this was most
likely profit-taking rather than fresh shorting….
• Euribor trading lower as the pace declines in the daily fixes continue to narrow• EU’s Rehn has
said a deal on Greece is very close; IIF’s Dallara and Greek PM Papademos are to meet again at
1630GMT • Market awaits advanced reading of Q4 US…
The appetite for risk is rising selectively going into the US open. The yen is surging for a second
day, recouping all of the losses made earlier this week….