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Aussie ticks higher, yen eases back

Tuesday, July 22 09:21:19

The Australian dollar rose on Tuesday, the main mover on developed world currency markets, after the country's central bank chief said he was happy with current interest rate levels and made no attempt to talk down the currency.

The yen was a touch lower after a couple of days of raised nerves over the situation in Ukraine and Gaza that had driven the traditional safe haven close to its highest in two months against the dollar and a six-month peak against the euro.

Analysts said the day's main event would be U.S. inflation data due later, and they were also focusing on a meeting of foreign ministers in Brussels due to discuss the bloc's attitude to Russia's involvement in Ukraine.

The Aussie has gained steadily since hitting an almost four-year low at the start of this year, driven by signs of improvement in its domestic economy and an easing off, at least for now, of nerves over Chinese growth.

The euro, which broke below $1.35 for the first time since February last week, was down 0.1 percent at $1.3505 early on in Europe.

(Reuters)

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