The pair closed in NY at $0.8797 after having traded a $0.8776-$0.8911 range on the day. The rate fell sharply following the FOMC statement that proved less dovish than expected and prompted US dollar demand across the board, hitting a low of $0.8776, before it opened just off a $0.8800 high. It came under pressure in a continued move down from last night’s $0.8912 high. Aussie-dollar slipped through the US session low of $0.8776 in early dealings and through the 21-day moving average at $0.8777 for a low of $0.8760 a few minutes after the release of Australia’s Q3 import, export price indices. The aussie recovered a bit around midmorning, taking its lead from the NZ dollar, which rose after RBNZ data showing it sold sold NZ$30 million in September, which suggested the central bank didn’t carry out any intervention last month. The recovery was shortlived though with aussie-dollar turning back again soon after it regained $0.8782. It was last at $0.8765.
