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Aussie-dollar: Aug30 close...........>

AUSSIE SUMMARY
AUSSIE SUMMARY: Aussie-dollar: Aug30 close $0.7900, Aug31 Asia range
$0.7887-0.7923, Europe $0.7884-0.7906
*Aussie-yen demand (Toshin launch) with added support from upbeat China data was
countered by modest dollar buying overnight as the aussie reversed off highs of
$0.7923 to $0.7887
*Cross demand briefly reclaimed the $0.7900 handle but with lack of follow
through drifted to consolidate in narrow range trade
*Rate made a show back under $0.7900, modest dollar buying continued into Europe
with slippage extending through the Asia low to $0.7886 ($0.7885 - Aug25 low)
*As the dollar started to pare recent gains, aussie extended its recovery to
$0.7906
*The move lacked follow through, fresh sellers emerged via the crosses with a
deeper reversal to $0.7884
*The Aug24 low provides initial support at $0.7867, corporate demand behind at
$0.7840. Aussie last $0.7888. 

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