Aussie had another stronger day today, sitting up 13bps at $0.9386. After spending much of the morning session trading sideways in a narrow range, but on the back of bids on the crosses to JPY and EUR, the topside was broken and new recent highs were made against the USD. Corporate demand and a round of stops saw the pair top out at $0.9390, it’s best level in almost a month. Sellers seen around $0.9400 with stops above at $0.9420, more offers ahead of $0.9450 with the 2014 high at $0.9461. Bids below at $0.9330 and $0.9300. Tomorrow’s Employment data for May (1130 Sydney, 0130 GMT) will be the near-term focus, as will the RBNZ rate decision at 0900 local (2100 GMT).
