Westpac note that the "Aussie has closed.....>

AUSSIE: Westpac note that the "Aussie has closed within a 0.6700-0.6900 range

every day since late July. The mid-October bounce has been aided by a more

positive tone on US-China trade talks but probably won't be more durable than

the early September rally. Iron ore prices are rolling over on patchy demand and

resilient supply, while we believe the US and China still have major hurdles

which will keep tariffs in place. Limiting downside though, we expect the RBA to

hold steady into 2020 as it remains hopeful on Australia's growth outlook and

spec short A$ positioning is substantial. Any near-term probes above 0.6900

should attract sellers, with our year-end target still 0.6700."