The pair closed in NY Monday at $0.8782 after having traded a $0.8744 to $0.8801 range to start the new week. The rate continued to trade sideways as the morning got underway today, keeping to a $0.8774 to $0.8797 range in the early hours. Just ahead of the release of the RBA’s minutes of its October meeting, aussie offers were noted at $0.8800 (US high last night $0.8799), with further offers then noted at $0.8820. Aussie-dollar briefly rose again to $0.8797 high as the RBA minutes were published, and then quickly pulled back again, to $0.8787. Not a lot new in the minutes and aussie reaction was largely kneejerk. The release of China’s Q3 GDP however provoked a stronger reposnse, with aussie-dollar jumping through $0.8800 for a high of $0.8814 soon after. Aussie-dollar continued to hold near that high for the rest of the morning, and was last at $0.8813, with some players now eyeing a break of $0.8820 and the Oct 16 high of $0.8831. On the downside, demand is seen at$0.8760, with minor stops also noted on any break below $0.8750. Further stops are noted below $0.8730 and $0.8640 and on the topside above $0.8820 and $0.8900.
