Aussie started in Sydney at $0.9351, after a $0.9334 to $0.9367 range in the US last night. Early attention was focused on the kiwi, as RBNZ Governor Wheeler delivered a speech and after the release of NZ labour force data. The higher-than-expected unemployment rate initially saw the kiwi dip to $0.8690 and aussie-kiwi rally to NZ$1.0740 before the better than expected participation rate and Q1 employment number provided support and the kiwi then recovered to last at $0.8727 while the cross went to NZ$1.0753. Aussie-dollar went up to a $0.9355 early high but reversed direction again after a slightly disappointing March retail sales number. Aussie-dollar then traded a $0.9333 low before recovering toward $0.9350 again after that. Since then, the aussie has held a narrow $0.9337 to $0.9349 range and was last at $0.9339. There’s not muchinterest atop the overnight high, with sellers seen only on approach of $1.4000, and stops above that. Bids meanwhile are noted at the $0.9310/00 region.
