Aussie suffered minor losses through a quiet Asia-Pacific session today, as the US currency recovered some recently lost ground. Aussie-dollar opened at $0.9054 and after some early support off $0.9050, the pair turned south and fell to $0.9027 less than an hour after Japanese markets opened lower. There has been some talk the aussie was also hurt by reserve asset re-balancing although there has been little info to support that. Still, aussie-dollar continued to drift lower, eventually touching a $0.9020 low duringthe Asian mid-morning. The pair rebounded a touch, to trade in mid-range on rumored demand from below the initial low and was last at $0.9037, compared with the US session close of $0.9054. on the crosses, euro-aussie selling and aussie-cad buying continues to provide some support for the aussie while a pullback from recent highs in aussie-kiwi slowed the progress a little. Aussie-kiwi last at NZ$1.0792 with a move below NZ$1.0790 to then shift focus lower once more. A close above the NZ$1.0950 level is needed to end bearish aspirations and see the NZ$1.1070 level targeted.
