RBA's Kent offered little on MonPol for......>

AUSSIE: RBA's Kent offered little on MonPol for AUD traders overnight, focusing

on money market rate specifics, although AUD did benefit from an uptick in local

yields & Chinese Premier Li noting that China will not pursue CNY devaluation to

support exports, with the antipodeans outperforming on the headline.

- AUD/USD last deals at $0.7245, back from session highs of $0.7255.

- While AUD/USD managed to reclaim the $0.7200 handle on Tuesday, there's little

technical evidence that a bullish breakout is forthcoming as the proximity to

the YTD low ($0.7085) remains a worry. Below there, the $0.7000 psychological

level is reported to hold option-related support. However, the close above

$0.7200 will still encourage bulls, who now look to the $0.7310/15 area to turn

the tide in their favour.

- The AU docket is thin over the next 10 days or so, which could mean that the

AUD is subject to swings in risk sentiment, with a particular focus on the U.S.

-China trade situation.