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Forex - AUD/USD holds steady at six-year lows after Greek vote

Published 07/16/2015, 02:49 AM
Aussie hovers at 6-year lows vs. greenback despite Greek austerity vote
AUD/USD
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AUD/NZD
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Investing.com - The Australian dollar held steady at six-year lows against its U.S. counterpart on Thursday, as markets eyed the Greek parliamentary vote on austerity measures after violent protests erupted in Athens Wednesday evening.

AUD/USD hit 0.7350 during late Asian trade, the pair's lowest since May 2009; the pair subsequently consolidated at 0.7385.

The pair was likely to find support at 0.7239 and resistance at 0.7488, Wednesday's high.

Markets were jittery after Greece's parliament approved late Wednesday the bailout package presented by prime minister Alexis Tsipras.

Tsipras can now begin working with Greece's European creditors to obtain emergency funding, in exchange for a series of economic reforms.

The vote came as violent protests erupted in front the Greek parliament in Athens on Wednesday evening contesting the bailout package.

In Australia, the Melbourne Institute reported on Wednesday that its inflation expectations for the next 12 months ticked up to 3.4% last month from 3.0% in May.

The Aussie was sharply higher against the New Zealand dollar, with AUD/NZD rallying 0.99% to 1.1310.

Also Thursday, data showed that the New Zealand Business Manufacturing Index rose to 55.2 in June from a reading of 51.5 the previous month.

A separate report showed that New Zealand's consumer prices rose 0.4% in the second quarter, less than the expected increase of 0.6%, after a 0.3% fall in the three months to March.

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