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

AUSSIE SUMMARY
AUSSIE SUMMARY: Aussie-dollar: European open $0.7711, range $0.7699-0.7726, NY
open $0.7699, range $0.7698-0.7730
*As the dollar firmed across the board, aussie continued to drift, touched
pullback lows of $0.7696 in early NY.
*The Aussie received a small lift as XAU recovered off its lows combined with
Aussie demand via the crosses the rate grinded towards $0.7715.
*A sharp drop in US Tsys yields, following details emerging of the house GOP tax
plan, witnessed the rate spike to fresh session highs of $0.7730 before profit
takers emerged pushing the rate towards $0.7715.
*Since printing the intra-day high of $0.7730, the pair remained in
consolidation mode with the rate bouncing between $0.7715/25. Traders  reported
offers at $0.7730/35 level.
* As the fed chair is announced we initially saw very little market reaction, as
the press conference ended gold took a dip lower, Aussie followed suit dropping
towards $0.7710.

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