Aussie was a victim of the overall risk-off sentiment and particularly hurt by the China HSBC flash PMI reading. Aussie-dollar opened at $0.8848 and after a brief peek at $0.8858, it slowly drifted lower in the early hours. The pair continued to slip after the MI inflation expectations release, trading toward the low end of a $0.8829 to $0.8853 range. The downmove accelerated sharply after the HSBC flash PMI release and the pair slid right through $0.8800 for a low of $0.8787. The move also saw the aussie retreat against the yen and the euro before aussie-dollar managed to stabilize amid some talk of demand coming in from $0.8780. The pair then edged back up toward$0.8800 in afternoon trades but remained offered through the rest of the day. Aussie-dollar was last at $0.8798 and faces persistent sellers from above the initial high so far, in the $0.8890/8900 region.
