The AUD reached its highest level in a week, boosted by market optimism over an imminent solution to Greece's debt crisis which boosted demand for riskier assets such as the south pacific currency. The NZD also gained after central bank governor Alan Bollard stated his intent to start raising interest rates sooner than expected.

New Zealand's Dollar rose to 72.47 U.S. cents from 72.37 cents in New York yesterday. Australia's currency advanced to 93.06 U.S. cents from 92.77 cents, after earlier touching a high of 93.13 cents.

Looking ahead to today, traders should follow the release of the Japanese Overnight Call Rat and the BOJ Press Conference. Although the interest rate is expected to remain unchanged, the BOJ statement is expected to provide direction for the Yen as it should provide clues as to the future monetary policy and current economic conditions.