Australian Dollar strengthens as global outlook improves

AUD GBP Mixed as Central Banks Feel the Heat

The Australian Dollar strengthened to its highest level in over a week as talks of the Greek bailout are due to resume this afternoon. One of the points of interest is that Greek GDP needs to be below 129% by 2020 but as yet this has not been finalised. If the talks go positively we could see the AUD$ continue to gain as confidence returns to more riskier assets.The rescue plan would also write off 100bn euros of debt, with private lenders accepting up to a 70% reduction in what Greece owes them. I anticipate that the resolution will be reached but it’ll take another few days before we receive the answer that markets are looking for. Watch this space for more news on the Australian Dollar Forecast or contact me directly Tom Holian [email protected]