AccessMyLibrary provides FREE access to over 30 million articles from top publications available through your library.
Create a link to this page
Copy and paste this link tag into your Web page or blog:
SYDNEY, March 1 Asia Pulse - The Australian dollar opened stronger this morning, tracking a firmer euro over the weekend after a choppy session of trading.
At 0700 AEDT the local currency was trading at .7735/40 compared with Friday's close of 0.7703/11.
In offshore trading it reached a low of $US0.7665 and a high of $0.7745.
"(It was) another choppy session with month end and generally stronger than expected US data making for some whipsaw moves," Westpac senior currency strategist Richard Franulovich said.
"But one that saw the United States dollar increasingly give back earlier gains."
The US dollar fell 0.4 per cent against the euro on Friday (NY time), despite stronger than expected US gross domestic product, Chicago and Michigan surveys.
Traders collected profits after the US dollar earlier rose on news that the nation's economic growth in the fourth quarter had exceeded expectations.