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The recovery off post SoMP lows ($0.7934)....>

AUSSIE
AUSSIE: The recovery off post SoMP lows ($0.7934) extended to $0.7978 in early
Europe, before fading. The RBA had earlier lowered near-term growth forecasts
and warned about the appreciating AUD in their quarterly report. Firmer
commodities supported off the low (Dalian iron-ore, steel rebar), triggering
light stops on the break of $0.7970. Light offers are reported on approach to
$0.8000 ($0.7993 - Aug2 high). Support at $0.7934/15 (Asia low, Aug3 low). Focus
turns to US Non-Farm Payroll data (1230GMT) for direction. Aussie drifts to
$0.7967 at typing. 

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