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Aussie-dollar: European open.........>

AUSSIE SUMMARY
AUSSIE SUMMARY: Aussie-dollar: European open $0.7891, range Europe
0.7882-0.7900, NY open $0.7898, range $0.7887-0.7913
*As kiwi sales started to pressure, aussie grounded out a fresh low of $0.7882
but lacked follow through
*Recovery efforts touched $0.7900, before fading into the NY open
*The break back above $0.7900 triggers fresh momentum to $0.7909 in early NY.
*The dollar trimmed back some of its earlier losses, with the rate drifting
towards $0.7891.
*In reaction to weak US July New-Home sales, the rate jumped back over $0.7900.
*The sharp drop in Aussie which Traders/brokers have reported was an
order driven move by a tier 1 institution, witnessed the rate drop from $0.7905
to $0.7885.
*Dip buyers emerged at the mid $0.7885 level, pushing the rate towards $0.7900.
*Profit taking continued towards the NY close, as the rate grinded towards
$0.7910.

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