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Aussie-dollar: Aug10 close...........>

AUSSIE SUMMARY
AUSSIE SUMMARY: Aussie-dollar: Aug10 close $0.7879, Aug11 Asia range $0.7839-76,
Europe 0.7848-68
*As the risk-averse theme continued overnight aussie was sold from $0.7876 to
$0.7860 ahead of RBA's Lowe semi-annual testimony to the House Economics
Committee
*Lowe's testimony was largely a summary of last Friday's SoMP and offered little
new information
*Despite this the rate encountered fresh selling pressure to $0.7839 following
remarks in the Q&A that said would intervene in FX market only in extreme
situation
*Dip buyers emerged off the low, rate traded either side of $0.7860 ahead of and
into Europe
*Demand via the crosses (eur-aud/aud-yen) started to build, rate touched $0.7868
but with lack of follow through was quick to pare gains
*Consolidation set in with main focus on the US CPI release (1230GMT) for
direction. Aussie last $0.7851.

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