Australian Dollar Strengthen Against Most Majors Amid Greek Elections

22:01, 17th June 2012

(RTTNews) - During the early Asian session on Monday, the Australian dollar climbed against the currencies of U.S., Japan and Canada amid easing concerns about Greece.

The conservative pro-bailout New Democracy party attained victory in Sunday's crucial elections in Greece. New Democracy leader Antonis Samaras declared victory in the election and called parties to join a national salvation government, "as soon as possible."

The aussie hit more than a 5-week high of 1.0137 against the US dollar with 1.02 seen as the next upside target level. The pair ended last week's deals at 1.0086.

Against the yen, the aussie that closed Friday's deals at 79.38 approached 80.31, its highest level since May 14. If the aussie rises further, it may target 80.6 level.

The aussie jumped to a fresh 2-month high of 1.0344 against its Canadian counterpart from last week's close of 1.0308. On the upside, the aussie may find target at 1.038 level.

At 1:00 am ET, Bank of Japan's monthly economic report is due.

From the U.S., NAHB housing market index for June is set for release in the New York morning session.