Aussie started this morning at $0.9413, after a $0.9401 to $0.9431 range in the US last night. It traded in a tight $0.9405 to $0.9417 range in early dealings, the latter marking the high for the day so far, before sliding through $0.9400. The move picked up pace as risk sentiment deteriorated and regional stocks went into negative territory, with aussie-dollar then slipping to $0.9371. Minor demand from $0.9370 kept the pair propped up above that but it eventually gave way just as China released its March CPI and PPIdata. Aussie-dollar went to a $0.9363 low as some stops were hit, although those stops turned out to be far smaller than earlier rumored. A mild recovery followed with aussie-dollar creeping back up to $0.9380 region in the late morning in Asia, but finding little impetus for a stronger rebound ahead of the weekend. Aussie-dollar was last at $0.9382. A close below $0.9307 is needed to hint at a deeper correction that initially targets the $0.9200-05 region
