Some time in the morning for the Australian all looked promising, and it reached 0.9950 against the backdrop of a supportive market reaction to news after the weekend that the Irish government finally agreed on the need of international assistance. Nevertheless, once it became clear that no basic decisions were made, the initial joy was replaced by fears that the Irish problem has become so large that even the special forces from the IMF and the EU will not be able to rescue ailing banks. Momentum in the direction of risk, which grew gradually throughout the day, reinforced negative night on the Korean peninsula, which take a very dramatic way. Although the Aussie started to buy some Asian central banks this morning, 0.9820 level remains significantly lower than yesterday's highs. If the U.S. dollar or Swiss franc will continue to attract the attention of those who avoid risks to the end of the year, while the Aussie may be under further downward pressure.
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