The pair had a generally stronger day but was directed mainly by technicals and some talk of offshore demand for Australian Govt. bonds. After touching a low of $0.8795 early in the session, aussie/USD drove quickly in thin markets to yesterday’s highs around the mid $0.8820s as the USD slipped quietly across the majors, then took another stab at the highs and took out some minor stops to the high of $0.8829 before coming back immediately. Whilst now up just 10bps at $0.8812, the aussie remains one of the stronger currencies across the board today in relatively quiet markets. Sellers at $0.8840/50 then $0.8900, bids below seen at $0.8785/80, $0.8755/50 then stronger at $0.8700
