Australia’s dollar rose against most of its major counterparts as speculation the Greek parliament will approve a package of austerity measures today boosted demand for higher-yielding assets. New Zealand’s currency strengthened for a second day against the greenback as Asian stocks rallied. Gains in the two South Pacific nations’ dollars were tempered amid concern Europe will still struggle to contain its sovereign debt woes. “We might see a modest rally in the Aussie,” said Greg Gibbs, a currency strategist at Royal Bank of Scotland Group Plc in Sydney. “The risk is that the confidence surrounding the European financial system will fade rather quickly and the Aussie will trade back down.” Australia’s dollar climbed to $1.0573 as of 4:18 p.m. in Sydney from $1.0541 in New York yesterday, when it gained 0.9 percent. The currency rose 0.2 percent to 85.66 yen, after increasing to 85.71 yen, the highest since June 15. New Zealand’s dollar advanced 0.2 percent to 81.35 U.S. cents, and appreciated 0.1 percent to 65.92 yen. Greece’s parliament votes in Athens on Prime Minister George Papandreou’s 78 billion-euro ($112 billion) austerity plan, which is needed before the cash-strapped nation can gain a fifth installment from last year’s 110 billion-euro rescue. To contact the reporter on this story: Candice Zachariahs in Sydney at czachariahs2@bloomberg.net To contact the editor responsible for this story: Rocky Swift at rswift5@bloomberg.net

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