Aussie started this morning on a subdued note, at $0.9424, right at the top of the overnight US session range. The pair however failed to make further headway as sentiment deteriorated and stock markets in the region weakened. Aussie-dollar was driven down toward the overnight low at $0.9404 soon after Japanese stocks opened lower after having traded a high of $0.9425 earlier in the session, with offers seen at $0.9430 and toward $0.9450 weighing it down. Some dealers also blamed the move on unwinding in aussie-yen cross, which also pushed dollar-yen lower. The pair broke below the US low of $0.9403 and then went to $0.9398 ahead of the RBA minutes. It briefly rose to $0.9409 immediately after the RBA minutes were released and then eases back to a new low for the morning so far at $0.9389 as the RBA commented on the aussie’s strength again. Aussie-dollar was last at $0.9393, with support seen at $0.9376, and then the Apr 11 low of $0.9363, with sell-stops then seen on any decline through $0.9360.
