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Aussie-dollar: Jul31 close...........>

AUSSIE SUMMARY
AUSSIE SUMMARY: Aussie-dollar: Jul31 close $0.7997, Aug11 Asia range
$0.7996-0.8043, Europe 0.7992-0.8035
*Aussie traded either side of $0.8000 in early Asia, before demand surfaced to
lift the pair to $0.8043. Commodity prices were seen to underpin, with ore
prices surging 4% and Shanghai steel rebar +1.75%
*Profit-taking ahead of the RBA then took hold, the pair eased to $0.8020
*Post-RBA the Aussie dropped from $0.8025 to $0.7997, traders noted, RBA's
comment that higher A$ is weighing on outlook for output and employment. The
bank left forecasts largely unchanged and expects inflation to increase
gradually, rate was quick to pare losses, recovered to $0.8038 before fading
*Downside momentum continued into Europe, support ahead of $0.8000 initially
cushioned, before a second wave pressed through the Asia low to $0.7992
*Recovery efforts have so far remained shallow, rate holds near the base of its
daily range, last $0.8003.

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