A relatively active session for the pair this morning after it opened at $0.9302. The rate drifted lower in very early dealings to $0.9293 but bounced through $0.9300 for $0.9310 just as RBA Governor Glenn Stevens began his prepared opening remarks at a testimony to the House of Representatives Standing Committee on Economics in Brisbane. The rally was shortlived and aussie-dollar retreated to a $0.9286 low as Stevens continued his remarks. Aussie-dollar recovered again later in the session as the market read his remarks to mean the RBA remains on hold, with the pair trading up to a high of $0.9317. Aussie-dollar again gave back all the gains in the afternoon, this time as the US dollar’s recovery intensified following the euro’s fall to a fresh 2014 low and as the New Zealand dollar also fell. Aussie-dollar was last at $0.9290. Below the session’s $0.9286 low, some dealers expecting it to extend losses toward $0.9240/30 region. Up top, offers are noted at $0.9335, ahead of the 100-day moving average at $0.9342 with the US session high then coming in at $0.9345
