The Asian-session daily update

February 21, 2012 4:35 AM GMT

Starting with the Australian dollar, where the Australian dollar is currently retreating against the U.S. dollar after the release of the RBA's meeting minutes, where the AUD / USD pair reached its highest level in today's trading session at 1.0756 and reached its lowest level at 1.0677, while it is currently trading around 1.0717.

Moving to the NZD dollar, as the NZD/USD pair is slightly retreating against the U.S. dollar as the pair is currently trading around the level of 0.8377 $, after reached its highest price at 0.8401 $ and lowest at 0.8338 $.

Moving to the Japanese currency, as the USD/JPY pair is slightly advancing against the U.S. dollar, as the pair is currently trading around 79.66, after it recorded its highest price at 79.80 and lowest at 79.53.

In addition, the Euro-area finance ministers reached an agreement on a second bailout package for Greece that is vital to dodge and avoida default in next March, where the euro jumped one cent against the dollar directly after the news.

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EUR/USD Weekly Outlook

EUR/USD's decline extended further as expected as reached as low as 1.2496. The break of 1.2625 confirmed resumption of whole fall from 1.4939. Initial bias remains on the downside this week.

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