Aussie slightly lower on the day after spending most of the session in a narrow $0.9370/90 range, except for two brief moves to establish the highs and lows. The high at $0.9412 came in the morning as the RBNZ raised rates to 3.25% (as expected) with their accompanying Statement read as hawkish. However, sellers in AUD against the NZD (and lesser extent EUR and JPY) soon saw AUD/USD back to near $0.9380 and saw little movement ahead of the May employment report. A weak headline (-4,800 vs. MNI exp. +10,000) saw Aussie hit $0.9351, where strong bids were encountered, seeing the pair almost back to unchanged once it was realised that full-time jobs were strong (+22,200) and the unemployment rate steady at 5.8%. Once again, it was back at around $0.9380, drifting lower into Europe. Sellers now seen above at $0.9410/20 then $0.9450 ahead of the 2014 high at $0.9461, good stops above $0.9420. Buyers below ahead of $0.9300, with smaller bids now at the session lows.
