The pair opened right at the session low for this morning at $0.8796 following last Friday’s $0.8719 to $0.8824 intraday range. The aussie then spent the early few hours holding near that low and then broke above $0.8810 after Asian stock markets got underway. Aussie-dollar encountered some cross-related demand linked to a stronger aussie-kiwi rate, but saw some difficulty extending gains on rumored sellers at $0.8825. The cross traded up to NZ$1.1227 from an early low of NZ$1.1184 and aussie-dollar tracked the move higher, peaking at $0.8825. The cross retreated after that, dragging aussie-dollar to $0.8801 before the latter rebounded again, back to the early high. Aussie-dollar was last at $0.8813.
