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Aud/Usd: Dec1 close $0.7610, Dec4....>

AUSSIE SUMMARY
AUSSIE SUMMARY: Aud/Usd: Dec1 close $0.7610, Dec4 Asia range $0.7587-0.7618,
Europe $0.7580-0.7609
*News over the weekend that the US Senate had finally passed the Republican tax
bill caused widespread demand for the US dollar in Asia. Aussie dipped from near
$0.7618 to $0.7587 before meeting demand
*Demand reportedly from Aud/Cad squeezed back over $0.76 cents to $0.7607 with
firmer commodity futures attributed to the move. Rate later eased to the $0.7590
area ahead of Europe
*Broad based dollar demand started to pressure, Aud touched pullback lows of
$0.7580
*The dip attached fresh demand interest, rate was quick to pare early losses
*Soft UST yields encouraged another wave of demand through $0.7600, Aud/Usd
squeezed to $0.7609 but with lack of follow through drifted
*Main focus turns to the RBA rate decision, although no change is expected,
particular attention will be paid to the statement for direction.

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