The pair stayed in a surprisingly narrow range Monday in Asia, with a lower start as the British pound opened much weaker as the chances of Scottish independence seemed to rise over the weekend, ahead of the Sep 18th referendum. However, AUD/USD trod water for much of the day in a very tight range of $0.9362 to $0.9376, with weak Chinese Imports for August (and a record trade surplus) failing to make any headway into prices. Traders will be looking to the reaction in Europe to the referendum news, whilst domestically the market will be waiting for Thursday’s August Employment report for direction. Buyers seen at $0.9325/30, $0.9300/10, than $0.9270/75; sellers seen at $0.9360, $0.9400/10 and $0.9425. GBP/AUD, one of the biggest movers in the FX space last week, dropped further today to 1.7303, down -0.0105.
