The pair started this morning at $0.8545 after last night’s lackluster $0.8537 to $0.8576 range during the US hours. Early dealings had the aussie looking heavy and it dipped to $0.8513 following a reported decision by Rio Tinto to delay a decision to invest in the proposed Silvergrass iron ore mine in Western Australia. Aussie-dollar saw a mild recovery to $0.8529 but was pulled back down again by a stronger US dollar theme. It stalled briefly at $0.8510 and held steady at $0.8515 after the release of the RBA’s private sector credit data. Another mild recovery ensued later in the morning but aussie-dollar again failed to find any kind of meaningful bid tone. Aussie-dollar then extended losses to $0.8502 around mid-morning, and on to fresh session lows of $0.8494 in the afternoon. It last traded at $0.8496. Immediate focus remains on retests of the $0.8480 2014 and 4 year lows set on Wednesday.
