Forexpros – The Australian dollar rose to a two-day high against its U.S. counterpart on Thursday, as hopes for a successful Greek debt swap deal later in the day overshadowed weak Australian employment data.
AUD/USD hit 1.0624 during late Asian trade, the pair’s highest since March 6; the pair subsequently consolidated at 1.0617, rising 0.31%.
The pair was likely to find support at 1.0524, the low of March 6 and resistance at 1.0685, the high of February 22.
Prospects for a successful Greek deal rose after a group of major banks and funds said they would take part in the swap. As of late Wednesday, about 52% of the EUR206 billion bonds up for restructuring had been pledged.
A positive outcome should clear the way for a bailout package and help Greece avert a messy debt default.
Earlier in the day, official data showed that the number of employed people in Australia fell by 15,400 in February, disappointing expectations for a gain of 5,000 jobs.
The report also showed that Australia’s unemployment rate ticked up to 5.2%, in line with expectations, from 5.1% the previous month.
Elsewhere, the Aussie was lower against the New Zealand dollar with AUD/NZD falling 0.28%, to hit 1.2923.
Also Thursday, the Reserve Bank of New Zealand kept its benchmark interest rate unchanged at 2.50% for the eighth consecutive month in March, in line with market expectations.
Later in the day, the U.S. was to produce government data on initial jobless claims.
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