On Friday the Australian dollar gained in Asia after central bank Governor Glenn Stevens noted driving demand in the economy would take more work, hinting the government should increase spending. The euro was higher versus the U.S. dollar on Friday.
AUD/USD traded at 0.7758, up 0.28%.
As Reserve Bank of Australia Governor
Glenn Stevens said Friday, monetary policy can still help rebalance the economy even it can't spur
demand growth as it has in the past.
The bank is "very conscious of the
possibility that monetary policy's power to summon up additional growth
in demand could, at these levels of interest rates, be less than it was
in the past," Stevens said in an opening statement to the House of
Representatives Standing Committee on Economics.
EUR/USD was trading at 1.1439, up 0.31% at time of writing. The pair was likely to find support at 1.1311, Thursday’s low, and resistance at 1.1404, today’s high.
Meanwhile, the Euro was up against the British Pound and down against the Japanese Yen, with EUR/GBP gaining 0.10% to hit 0.7420 and EUR/JPY falling 0.22% to hit 135.53.
Greece’s current bailout is due to expire on February 28 and the new Greek government does not want it extended, fuelling fears over a conflict with its creditors which could trigger the country’s exit from the euro zone.
