The pair opened at $0.9315 this morning after Friday’s $0.9293 to $0.9323 range during the US hours. Early aussie tone was relatively firm with aussie-dollar edging up toward $0.9320. The move stal;led when the New Zealand dollar fell sharply. The kiwi fell from highs just off $0.8400 and went through $0.8360/50. Losses continued as the market began to speculate of RBNZ intervention to sell the NZ currency, fueled by local media reports. Most analysts and traders in Asia expressed strong doubts about this but as the kiwi sank to a $0.8336 low, aussie-dollar also sank to the Friday low and marked$0.9292 before it began to recover as aussie-kiwi then got a boost. That continued to hold aussie-dollar off the $0.9300 mark through the morning before it extended the recovery back toward $0.9320 in late dealings as kiwi remained offered. Aussie-dollar was last at $0.9317 while kiwi was at $0.8347
