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*Aug18 Aussie open $0.7885, range....>

AUSSIE SUMMARY
AUSSIE SUMMARY: *Aug18 Aussie open $0.7885, range $0.7870 to $0.7900
*Aussie opened in Asia at the lower side of the $0.7881 to $0.7963 range
witnessed yesterday, where souring risk-sentiment placed the antipodean on the
defensive.
*The risk-off theme saw the Aussie take out Thursday's $0.7881 base to post a
low at $0.7870. Fast money accounts were reportedly selling Aussie-yen expecting
a weak Nikkei open.
*Nikkei opened a little lower than expected, but did not carry on the move,
nervous Aussie-yen shorts began to cover
*Tokyo-fix related demand in Aussie-yen pushed the Aussie higher from $0.7875 to
$0.7891. Post-fix, the move extended to $0.7900 with firmer ore prices seen
supporting, Dalian ore futures +1.65%
*Consolidation then became the theme heading into the European open, the pair
held to a tight $0.7891-00 range.
*University of Michigan Consumer Sentiment is seen as the next event risk, due
at 1400GMT

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