AUD/USD lost over 1 big figure on............>

AUSSIE: AUD/USD lost over 1 big figure on Wednesday, weighed by an increase in

U.S.-China trade tensions and a stronger greenback putting immediate focus back

on the YtD low of $0.7311. However, after touching a slightly extended pullback

low of $0.7361 in opening local trade, the AUD was been supported by an uptick

in AUD/JPY and the broader relief rally in equities, helped in part by no

ramping up of the US/China trade spat(no news is good news). AUD/USD lifted

through the balance of the Asian session to $0.7388, edging on to $0.7393 in a

slow Europe trade session. Risk-off positions have been seen getting pared back

but those underlying tensions remain in the background. 

- There is little in the way of Australian tier one data apparent during the

remainder of the week, so focus is likely to remain on global risk appetite.