Rates At 0530 GMT Latest Change AUD/USD 1.0605 +0.57% AUD/JPY 86.17 +1.23% 6.25% Apr, 2015 3.5631% +0.0081 5.50% Mar, 2023 4.1264% -0.0119 10-Yr Spread To U.S. +206 bps -14 bps SFE Mar 3-Year Futures 96.44 -0.01 SFE Mar 10-Year Futures 96.00 +0.01 SYDNEY (Dow Jones)--The Australian dollar was higher Thursday buoyed by reports that a crucial debt swap in Greece had moved closer to a successful conclusion. Pledged participation in the debt swap hit 52% of the eligible EUR206 billion ($271 billion) overnight, prompting European Union Economy Commissioner Olli Rehn to say the deal will go off "without a glitch." If successful, it will clear a major hurdle for Greece as it battles its way back to economic health. But traders warned that once the focus is removed from Greece, it could quickly move to other countries such as Spain and Italy. The development, coupled with a report in The Wall Street Journal that the U.S. Federal Reserve is considering a round of bond buying, boosted risk appetite in Asia, dealers said. The Wall Street Journal reported that the Fed could consider "sterilized bond-buying" that wouldn't affect its balance sheet. Chinese shares strengthened as a result, leading most risk assets to high ground in Asia. But the Australian dollar had to first withstand poor employment data. Australia's unemployment rate rose to 5.2% in February as the economy shed 15,000 part-time jobs, the Australian Bureau of Statistics said. Economists said the data fueled the case for the Reserve Bank of Australia to lower interest rates in coming months, especially as they followed other data Wednesday showing sluggish economic growth in the fourth quarter. "This may prompt the RBA to act before the unemployment begins to drift higher as has been widely expected," said ANZ Bank economist Judith Toth. At 0530 GMT, the Australian dollar was trading at US$1.0605 from US$1.0544 late Wednesday, and Y86.17 from Y85.12. Medium-term expectations for the Australian dollar remain robust, with the Australia's employment minister Bill Shorten Thursday saying companies need to adjust to the soaring currency. He said the days of the currency trading in a range of US$0.6000 to US$0.7000 appear to be gone for now. "In the values of currencies around the world, in my opinion, there's a fundamental shift from west to east. The euro is going to continue to take a battering and we will continue to see strength in the Asian currencies," he said. -By James Glynn, Dow Jones Newswires; 61-2-8272-4685; james.glynn@dowjones.com (Data provided by Reuters)

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