Australian dollar range-bound as Portugal fears ease
THE Australian dollar is hovering below 94 US cents amid easing concerns over the health of Portugal’s biggest listed bank.
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THE Australian dollar is hovering below 94 US cents amid easing concerns over the health of Portugal’s biggest listed bank.
At 0630 AEST on Monday, the local currency was trading at 93.77 US cents, down from 93.87 cents on Friday.
The Australian dollar traded within a narrow range over the weekend, as Portuguese authorities moved to ease fears over the health of Banco Espirito Santo.
“There is no reason to doubt the security of the funds entrusted to the BES, and its savers have no need to be worried,” Portugal’s central bank said in a statement.
Originally published as Australian dollar range-bound as Portugal fears ease
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