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FOREX - AUSTRALIAN DOLLAR OPENS FIRMER - JAN 2, 2001.

AsiaPulse News

| January 02, 2001 | COPYRIGHT 2001 Asia Pulse Pty Ltd. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan.  All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)Copyright

SYDNEY, Jan 2 Asia Pulse - The Australian dollar opened firmer this morning on gains made Friday night as the euro strengthened against the US dollar and the yen.

However dealers said the local currency had not traded this morning, and was headed for a quiet day with New Zealand and Japan out of action for public holidays.

At 0700 AEDT, the Australian dollar was at $US0.5583/88, compared with $US0.5539/44 late Friday.

A dealer from a foreign investment bank said the Australian dollar crept higher in quiet trade Friday night.

"The range was $0.5536 to $0.5582 and we're around that high now and it's yet to trade this morning," she said.

"I think today will be pretty quiet with thin liquidity conditions.

"If anything the Aussie could probably creep a little higher just because it has been gaining momentum over the last three or four weeks. We're seeing clearly a slowdown in the US."

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Source: HighBeam Research, FOREX - AUSTRALIAN DOLLAR OPENS FIRMER - JAN 2, 2001.

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