A generally range-bound session for the pair this morning in the Asia-Pacific session, after it opened at $0.8622 today. The aussie pulled back from $0.8634 in early trades and slid to a low of $0.8615 before recovering. The subsequent rebound saw aussie-dollar snapping back through its early peaks before it then traded a $0.8650 high. There was little follow-through and insufficient momentum developed for aussie-dollar to attempt a move to last night’s $0.8683 high. It spent much of the late morning hours chopping around in a $0.8639 to $0.8652 range. Late in the session, the pairencountered fresh selling pressure as the US dollar encountered renewed bids, particularly against the yen on the back of a sharp rise in Japanese stocks, and began a broader rally. Aussie-dollar almost completely reversed its move in the afternoon here as it sank back to $0.8616 and was last at $0.8624.
