Europe returns to plunge into a vortex of doubt and uncertainty about the new political landscape presented in Greece and about the main ally of Germany, which is France.
Elections in Greece, carried out over the weekend, did not allow to form a government, which increases the possibility of that eventually the Hellenic country should leave the euro over the coming months. A series of political disputes are leading to this conclusion, and what you see, whatever the resolution of the conflict, a new government would be in favour of leaving the euro zone.
On the side of France, the change of government is so political sign. German Chancellor Angela Merkel invited the new president of France, Francois Hollande, to meet in Berlin as soon as possible.
And Merkel has real reasons to be worried about. Hollande who is the socialist, favours leaving at least partially the austerity policy driven by Germany and supported by the Sarkozy government, leaving the same soon.
These controversies and conflicts between the two major powers of Europe could have dire consequences for a unit. However, still it falls with the force that could be expected only by the weakness that the dollar has on all fronts.
However, the euro is trading below 1.30, and technically a gap left unfilled in the region of 1.3085. Also the British pound was very strong during the U.S. trading session on Thursday.

As to the Australian dollar, there is a consensus that the RBA will cut further the key interest rate, which remained for days at 3.75% and the bearish sentiment referring to the Australian currency is accentuated. In the medium term objective of the Aussie is in the area of 0.97.