The Australian dollar is the top performer ahead of the US open with an advance of 0.17% on the session. Risk appetite is on the rebound in European trade with equity markets in the black across the board after EU leaders announced they would give Spain an extra year to achieve its 3% budget deficit target while granting access to up to €30 billion in funding to the banking sector by the end of the month. The news temporarily alleviated concerns over a banking crisis in Spain and offset disappointing trade data out of China in the overnight session.
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