Australian And NZ Dollar Rises After German Court Allows ESM

Australian And NZ Dollar Rises After German Court Allows ESM


The Australian and NZ dollars extended their early rally against most major currencies in early European deals on Wednesday after Germany's Federal Constitutional Court allowed the ratification of the European Stability Mechanism.
However, the court said Germany must cap its bailout fund share at EUR 190 billion
The aussie rose to near a 3-week high of 1.0502 against the greenback, 5-day high of 81.78 versus the yen and a 12-day high of 1.0214 against the loonie.
The kiwi also advanced to near a 3-week high of 64.11 against the yen and a 5-month high of 0.8239 against the greenback.