After last night’s dead cat bounce to $0.9283 during the US hours, the pair ran into fresh pressure during Friday’s Asia-Pacific session. It started at $0.9270 and traded with a heavy tone in the early hours, drifting toward $0.9260 ahead of the release of the RBA’s statement on monetary policy and housing finance data. It sank further to $0.9252 immediately after the releases with the market then focusing on rumored stops below $0.9250. President Obama’s Iraq announcement added further weight on the aussie and the rate slid through those stops, with the move picking up pace until it bottomed out at a session low of $0.9240. Chinese trade data helped spark a mild recovery in the aussiebut even that was largely limited, and aussie-dollar last traded at $0.9255. Initial resistance has been noted at $0.9292 with offers at the $0.9280/90 region and weak stops above $0.9300.
