The pair opened at $0.9137 after an overnight low of $0.9108 in the US. Early trades saw the pair hold within the $0.9050 to $0.9180 recent range, with the downside supported by talk of large bids defending a $0.9050 barrier, while offers were seen above the $0.9147 US high, from $0.9170/80, to $0.9200. It was holding at $0.9138 when the Q3 GDP data came out below expectations and aussie-dollar promptly dipped to a $0.9077 low within minutes as it dived through smaller bid interest at $0.9115 and $0.9100. Federal Treasurer Joe Hockey then triggered a sharper decline when he commented that official nominal growth forecasts would not be met, sending aussie-dollar careening through $0.9050 for a low of $0.9046, its worst level since Sept. 4. The move halted just shy of further stops below $0.9045 and subsequent short-covering thenhelped aussie-dollar back up through $0.9050. Renewed selling however appeared at $0.9080, and that kept the pair from making any further recovery so far. Aussie-dollar was last at $0.9070, with next support for the pair eyed at the Sept. 4 session low of $0.9038, coming in ahead of another barrier at $0.9000 and the usual stops building below.
