Although risk instruments were in favor today, aussie lost ground as the US dollar also marked strong gains during the early Asian session. Aussie-dollar had found an early lift, a move supported by a positive morning for aussie-yen and other yen crosses. Aussie-dollar opened at $0.9178 and was initially confined to a $0.9175-80 range during early morning trading to start the new week with aussie-kiwi buying also noted supporting a little. Comments from RBA Gov Stevens last Thursday continued to weigh on the aussie though the pair inched up to a $0.9189 high before turning lower again. The subsequentpullback saw aussie-dollar slide to $0.9148 earlier today before it then stopped short of the $0.9144 low traded last Friday. Aussie-dollar was last at $0.9158. Dealers say they also witnessed several accounts trying to re-build positions in aussie-kiwi. The cross fell to fresh 2013 lows of NZ$1.1169 in London morning trading on Friday before short covering and profit taking took the pair back to NZ$1.1266 only to see the pair head lower in NY trading before closing heavy at NZ$1.1180. Aussie-kiwi last at NZ$1.1138. RBA Dep. Gov. Lowe is speaking on Tuesday morning and his comments are expected to echo those of Stevens.
