With most of Asia out for the lunar new year holiday celebrations, the lack of activity and flows took their toll on currency markets and trading was kept to a very subdued affair. AUD/USD opened at $0.7790 this morning before local corporate demand surfaced at $0.7785 pushing the rate up to $0.7809. The rate managed a high of $0.7814 a second wave of buying but failed to make further progress there before it pulled back. Even then, dips were limited although aussie-dollar made a broef move through $0.7800 for a low of $0./7786. There were no major Australian data releases today as well and the market looked ahead to next week’s re-opening of Asian markets for further leads. The aussie spent the remainder of the session trading within a narrow $0.7805 to $0.7812 range. It was last at $0.7809
