The pair started this morning at $$0.8491 after a $0.8479 to $0.8533 range last night in the US, the latter marking a fresh 2014 high for the aussie-dollar rate. The pair made an early attempt to get up through $0.8500 again this morning before the gains were capped, after which the rate then pulled back to $0.8476. Talk of orders were noted on both sides of the morning trade today, with a $0.8500 option expiry noted while demand was seen at the $0.8460/40 range. The release of Australia’s building approvals and Q3 current account data were widely seen as positive for the aussie, and it briefly jumped through $0.8500 for an initial high of $0.8504. The rate then settled back around the $0.8585 mark in the next few hours as the market waited for the RBA decision. That turned out to be as expected and aussie-dollar then jumped again, this time reaching $0.8509 before profit-taking sapped the gains. Later in the day, aussie bond yields gained further and sparked another round of aussie gains, with aussie-dollar then peaking at $0.8527. It last traded at $0.8514 with a move above last night’s $0.8532 US session high likely to see stops getting hit above $0.8560.
