Aussie recouped almost all of the losses marked in the last 2 sessions today, as risk appetite witnessed a comeback in the Asian session while the release of the NAB’s Australian business survey provided an additional boost. Aussie-dollar opened at $0.8739 and initially struggled to stage any kind of meaningful rally off a $0.8726 low. A positive open in Japanese stocks helped aussie-dollar up a bit top around $0.8743 a few minutes ahead of the NAB’s Dec business survey. The survey showed Australian business conditions finally caught up to the recent gains in confidence, rising sharplyin December to a two and half year high. That triggered a broader rebound in aussie-dollar helped along also by the positive performance in other stock markets in the region. Aussie-dollar hit an early high of $0.8769 where it paused for a while as offers at $0.8770/75 capped the move. Aussie-dollar ran through those orders later in the session and went to a $0.8792 high in the early afternoon, and was last at $0.8787 as more offers cited toward $0.8800 constricted further gains.
