Tuesday, April 21, 2015

Euro dips, China boost for Aussie dollar fades

11:41 AM

Forex tips: The euro slid just over half a percent against the dollar in a slack start to the week on Monday dominated by the fallout of new economic stimulus in China and concerns over Greece. The dollar's worst performance in a month last week had added to a growing number of signals casting doubt on its ability to extend a year-long rally against other major currencies. But allied to the programme of money-printing embarked upon by the European Central Bank, the risk of Greece leaving the single currency within months still looks to make the euro a good bet for more weakness. IMF meetings over the weekend did nothing to ease those fears and the euro eased 0.6 percent to $1.0740 in morning trade in Europe. China is the biggest export market for both Australia and New Zealand and an easing of demand there has been at the heart of a steady slide which for the Aussie now dates back two years. The latter touched a near one-month high of $0.7844 in Asia deals after the China move. It last traded at $0.7785, flat on the day. The kiwi did slightly better, up 0.4 percent at $0.7693.

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