Dealers assure me that its positional adjustment, pure and simple, which is driving the Anzacs today. The reports on EU bank rescue funds, more Spanish help for its banks, and the Greek polls backing the pro-austerity parties have all helped to lift risk sentiment off the floor. The bearish technical break in EUR/AUD will also be helping. AUD/USD is getting close to 100 pips off its NY closing level, so I’m sure the sellers will soon arrive. Dealers say that offers are fairly sedate until .9925/50, when they start to increase significantly.
AUD/USD, NZD/USD still edging higher
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