Aussie, kiwi benefit from spark of light in Greece

South Pacific monetary units gained in value on Friday against the U.S. dollar amid optimism that international bailout funding soon will be disbursed to debt-hobbled Greece, according to Bloomberg.

Assets considered more risky benefited from news indicating the European Central Bank will exchange bonds from the Aegean nation for new securities. The New Zealand dollar also benefited from governor Alan Bollard of the Reserve Bank noting the economic performance of the nation he serves might be understated. Asian stocks' rally helped drive the Australian dollar to its top value in six months against the Japanese yen.

"There is still strong momentum behind" the monetary unit of Australia, economist Janu Chan with St. George Bank in Sydney told the news source. "The developments in Greece are positive. I think in terms of Europe, it's more likely that the news will be more positive than negative that the deal goes through."

Economic data indicating growth and development within the economy of the U.S., the world's biggest economy, also spurred demand for the Aussie and the Kiwi.

The Sydney Morning Herald reports the Australian dollar's value against the yen also was prompted by the monetary easing program implemented by the Bank of Japan as the Aussie climbed to its highest rate since August of last year.