Opened in Sydney around $1.0292 and headed sharply higher following the strong Apple earnings to highs of $1.0339 in thin trading as Australia and NZ respect the ANZAC annual holiday. The move also buoyed AUD/JPY which hoisted the cross back through Y84.00 to Y84.24 despite a lack of Japanese fixing demand. AUD then eased back as Asian bourses pared back gains to $1.0307 taking AUD/JPY back down around Y84.00. EUR/AUD slipped in early trade from A$1.2814 to A$1.2766 but later recovered to A$1.2804. AUD/NZD marched higher again from early lows of NZ$1.2690 to NZ$1.2716 in a continuation of yesterday’s recovery from NZ$1.2620. AUD now has strong offers ahead of $1.0350, with dips towards $1.0280 now attracting sovereign and exporter demand. Aussie-yen now has strong offers at Y84.30/50 extending up to Y84.80/00 with some bids down at Y83.50/60.
EasyForexNews Research Team