businessupdates

The euro strengthened against the dollar, climbing as much as 0.2 percent to $1.2908, the highest level since Nov. 2.
It was at $1.2903 at 7:37 a.m. London time. Europe’s shared currency pared a decline against the yen, leaving it little changed at 106.26. Earlier it weakened as much as 0.4 percent.
To contact the reporter on this story: Emma Charlton in London at echarlton1@bloomberg.net
To contact the editor responsible for this story: Paul Dobson at pdobson2@bloomberg.net

• Increase Text Size
• Decrease Text Size
• Print
• Email

Start of sidebar. Skip to end of sidebar.

Related Coverage

• $A higher on a quiet day of trading NEWS.com.au, 1 day ago
• Global sentiment pushes $A lower NEWS.com.au, 9 days ago
• Dollar lower ahead of key events NEWS.com.au, 5 Nov 2012
• $A weaker, despite jump after CPI NEWS.com.au, 24 Oct 2012
• $A up after RBA keeps rates steady NEWS.com.au, 4 Sep 2012

End of sidebar. Return to start of sidebar.

THE Australian dollar is trading in a tight range in a quiet morning on currency markets.

At 12pm AEDT today, the currency was trading at 103.87 US cents, slightly above its level of 103.84 US cents yesterday afternoon.

OzForex head of corporate dealing Jim Vrondas said, with US markets closed overnight for Thanksgiving and no major economic data releases, the Australian dollar had traded between 103.76 US cents and 103.92 US cents this morning.

"We're stuck in a pretty narrow range and I can't see that changing today," he said.

Mr Vrondas said news the International Monetary Fund was considering including the Australian dollar on its list of reserve currencies was likely to help lift its value next week.

He said markets had also become more confident US politicians would reach an agreement to avoid a so called 'fiscal cliff' of tax hikes and spending cuts due to apply in early 2013.


"Looking ahead, I think we could see the Aussie dollar push past that 104.20 US cent level," he said.

Meanwhile, Australian bond futures were lower at noon. At 12pm AEDT today, the December 10-year bond futures contract was at 96.795 (implying a yield of 3.205 per cent), down from 96.830 (3.170 per cent), yesterday. The December three-year bond futures contract was trading at 97.290 (2.710 per cent), down from 97.320 (2.680 per cent).

Read more: http://www.news.com.au/business/australian-dollar/dollar-in-tight-range-due-to-us-holiday/story-fn6t6wad-1226522449148#ixzz2DFuGqAUb