The pair started this morning at $0.9306, after marking a $0.9301 to $0.9331 range during the US hours last night. It inched steadily higher through the early hours of the day, pushing through $0.9315 and then hitting $0.9322 as the US dollar weakened in early dealings. Aussie-dollar ran aground after that when the New Zealand dollar shot higher following Fonterra’s announcement on its cash payout. Aussie-dollar turned lower as aussie-kiwi retreated, the cross falling from a NZ$1.1179 high to Nz$1.1134. Aussie-dollar went to $0.9316 soon after and ran into further selling pressure on the releaseof Q2 construction work data, hitting a low of $0.9302 soon after. The pair recovered again in the Asian afternoon, taking back the $0.9320 mark. Aussie-dollar was last at $0.9324. Stops are noted above $0.9350 and $0.9380 and on the downside below $0.9270 and $0.9230.
