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October 10, 2017 18:33 GMT
Aussie-dollar: Europe open...........>
AUSSIE SUMMARY
AUSSIE SUMMARY: Aussie-dollar: Europe open $0..7785, range $0.7750-90, NY open
$0.7783, range $0.7774-0.7795
*Minor pullback encountered fresh dip buyers ahead of $0.7780 into Europe. Rate
squeezed to $0.7797 but with lack of follow through triggered light profit take
sales off the high.
*Rate was quick to pare gains, touched pullback lows of $0.7775 but soon faded,
the rate hovered between $0.7775/80 into the NY open.
*Lacked direction in early NY as the pair continued to hold in its narrow
$0.7775-97 morning range.
*Slippage extended to $0.7776, before stalling ahead of support from the
European morning low ($0.7775).
*As euro/dollar spiked in reaction to comments from EU'S Tusk, the rate followed
suit grinding towards $0.7795.
*The dollar gets a small lift across the board into the NY close, as the DXY
stages a small recovery with the rate drifting towards $0.7780.
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