- Thursday saw the Australian dollar jump up almost half a percent against its US counterpart, despite the release of tepid Australian retail sales data. The official report by the Australian Bureau of Statistics stated that retail sales rose 0.2% in December. This came out below the expectation of a 0.4% increase. Although this came out worse than expected, the market reacted to the ECB’s decision that it would no longer accept Greek bonds as collateral for lending, which strengthened the Australian dollar.
- The Swiss franc dropped the most it had done against the euro on Thursday since the Swiss National Bank (SNB) scrapped its exchange rate cap last month. The SNB has shown signs that it is still preparing to intervene in currency markets, even after abandoning the cap.
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