The Australian and New Zealand dollars firmed on Monday as the passage of Greece's austerity bill brightened the allure of risky assets, ahead of a key EU meeting later this week to secure a second bailout. The Australian dollar crept up to $1.0733, after falling as far as $1.0640 offshore on Friday, its weakest since the start of the month. It climbed to a six-month peak of $1.0845 last week.
Traders cited good buying interest from macro-funds which could test the next chart barrier at $1.0765, the 61.8 percent of the Fibonacci retracement of the $1.0845/$1.0640 move. The Aussie has showed remarkable resilience to the lingering European debt crisis, having gained nearly 5 percent this year. The New Zealand dollar gained support after the Greek vote to sit around session highs at $0.8330, having dipped to a 10-day low of $0.8249 in New York on Friday. Against the euro, the Aussie eked out to A$1.2332, having drifted back from an all-time peak of A$1.2124 last week. Likewise against the kiwi, the euro was last at NZ$1.5903, off an all-time trough of NZ$1.5627 earlier in February. Australian government bond prices eased, having touched multi-month lows last week.
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