Aussie opened in Asia at $0.8967 this morning and briefly climbed to a $0.8971 high in early trades. Aussie-kiwi selling weighed on the aussie and extended the overnight low from $0.8956 to $0.8952 early this morning, ahead of more stops noted below the $0.8950 level today. The overall sell-aussie tone then continued to drag the pair down through the morning with the currency under pressure also via crosses like euro-aussie and aussie-kiwi. Aussie-dollar slipped below $0.8950 and uncovered demand from Australian corporate accounts, which provided some support but this was shortlived as aussie-dollar slipped below $0.8930 after the release of Chinese new loans, money supply and FX reserves data today. The pair retreated further to hit a low of $0.8912 with little recovery seen since. Aussie-dollar last at $0.8916, ahead of demand lastcited at $0.8900/885.
