The pairopened at $0.9340 this morning, after a $0.9315 to $0.9335 range overnight in New York. The rate opened at $0.9325 this morning and initially held a $0.9320/27 range. Aussie-dollar was then lifted off a $0.9317 session low as aussie-kiwi demand emerged. The release of New Zealand PPI data put the kiwi under pressure, dipping back towards initial support at $0.8466 while aussie-kiwi bounced off initial support at NZ$1.0989 to a high of NZ$1.1079. The firmer cross tone contributed to aussie-dollar’s gains and the pair went up to $0.9336. The release of RBA minutes initially saw aussie-dollar in a knee-jerk drop to $0.9319 before it then recovered to $0.9338. That bounce extended further in the late morning, to reach a high of $0.9343, with all attention now on RBA Governor Stevens’ scheduled appearance before lawmakers tomorrow. Aussie-dollar was last at $0.9340.
