European open $0.7837, range.........>

AUSSIE SUMMARY: European open $0.7837, range 0.7833-0.7866, NY open $0.7855,

range $0.7851-0.7925

*The greenback pared back some of its losses in early NY, as the rate fell

towards $0.7850

*Pressure on the greenback following the release of weaker than expected US July

Housing Starts, witnessed the rate jump towards $0.7865.

*Received an added lift via the crosses and commodities rallying, stops were

triggered on the break of $0.7875 pushing the rate to a new intra-day high of

$0.7892.

*Pressure on the greenback continued ahead of the FOMC, as stops were triggered

on the break of $0.7900 with the rate printing a new high of $0.7907

*Following a dovish tone from the FOMC minutes, the greenback came

under broad based pressure, with the rate spiking to a new intra-day high of

$0.7925

*Sellers emerged taking profit, with the rate falling back towards $0.7910.