Very little action on the Aussie today with the currency slightly stronger across the board, and holding on to a 8bp gain as Europe awakes, last at $0.9320. Some short covering early in Asia saw the Aussie heading back towards Friday’s highs, with some stronger than expected Retail Sales data for June helping the pair spike to the $0.9333 high vs. the early session lows of $0.9306. AUD/JPY was also seen as bid this morning in lighttrading. However, the market remains thin due to a Bank Holiday in Australia, and the afternoon was spent in a narrow range, roughly $0.9320/25, which is now seeing a slight test of the downside of that range as of writing. Bids below seen at $0.9305 then $0.9290, with some larger bids at $0.9270 and major buyers seen closer to $0.9200, with offers scaled above at $0.9335/45 then $0.9375 to $0.9400.
