Commodities under pressure
The Australian dollar has gone from a session high to a session low in the past five hours. That's just a 30 pip drop but that's the shape of the playing field in this holiday-shortened week in FX.
The dip to a low of 0.7546 found bids despite a modest break of the Asian lows. The big level to watch on an intraday basis is Friday's low of 0.7536.
In terms of commodities, iron ore is steady but most commodities are under pressure.
