Australian dollar one cent higher on Greece bailout

THE Australian dollar is one US cent higher this morning, after Eurozone leaders agreed overnight to a deal that will grant Greece a new bailout.

THE Australian dollar is one US cent higher this morning, after Eurozone leaders agreed overnight to a deal that will grant Greece a new bailout.

At 6:23 (AEST), the local unit was at 108.39 US cents, up from 107.38 US cents at close on Thursday.

The eurozone countries and the International Monetary Fund will give Greece a second bailout worth 109 billion euros ($145 billion), on top of the 110 billion euros ($146 billion) already granted a year ago.

The domestic currency reached 110.11 US cents on May 3, a record high since the currency was floated in December 1983.