Aussie traded a fresh 2014 high of $0.9505 last night, also the highest level since early-November 2013 before it started this morning’s session at $0.9497. It got up to a $0.9499 high in early dealings but then turned down again in the face of large sell orders cited just through $0.9500, from $0.9505 through $0.9510/20 area, interspersed also with stops throughout. Aussie-dollar was holding just off $0.9490 when the May trade data were released, triggering a sharp fall. The surprisingly large May trade deficit sparked a broad aussie drop through the earlier $0.9486 low for $0.9469. Chinese accounts was then seen putting bids in there and at $0.9467, although these failed to contain the losses, with aussie continuing to probe lower. It sank to a $0.9453 low but still managed to stay above those earlier reported bids at $0.9450. Aussie-dollar then witnessed a minor rebound to $0.9468, amid some talk of US bank bidding off the lows but fell back shortyly after to hit a fresh low for the session at $0.9451. Aussie-dollar was last at $0.9452.
