The Australian dollar held near four-month highs against the euro on Friday as glum economic news in Europe and the threat of a possible euro exit by Cyprus contrasted sharply with recent upbeat data in the country.
The dollar was also within sight of four-year peaks on the yen even after the new Bank of Japan governor played down the chances of an emergency meeting to announce aggressive easing measures to kick start the economy.
The euro bought $1.2380, having skidded to $1.2335 overnight, the lowest since mid-December. It was on track to end the week 1.5 per cent lower, its second largest weekly loss this year.
Charts suggested further downside with the next target at $1.2280/90.
The Australian dollar held near four-month highs against the euro on Friday as glum economic news in Europe and the threat of a possible euro exit by Cyprus contrasted sharply with recent upbeat data in the country.
The dollar was also within sight of four-year peaks on the yen even after the new Bank of Japan governor played down the chances of an emergency meeting to announce aggressive easing measures to kick start the economy.
The euro bought $1.2380, having skidded to $1.2335 overnight, the lowest since mid-December. It was on track to end the week 1.5 per cent lower, its second largest weekly loss this year.
Charts suggested further downside with the next target at $1.2280/90.
