The pair took out Friday’s low ($0.8996) in early trading to start the new week, and then recovered from its earlier low of $0.8994 to $0.9024 earlier. Risk appetite was initially influenced by early weakness in equity markets in the region during Asian trading today and aussie struggled to make any meaningful ground in the early hours. Aussie-dollar received a lift when Chinese markets began their day and the PBOC set the yuan fix, a day after the announcement of widening of the yuan trading band. Aussie-dollar climbed through the initial highs on the move but stalled at $0.9038. Aussie-dollar was last at$0.9028 with offers seen at Friday’s US session high of $0.9050, and at $0.9080 with stops cited in between and with more sellers then seen toward $0.9100. A close above $0.9050 is seen as needed to ease the bearish pressure that is hinting at a retests of last week’s $0.8924 low.
