Stuck in a 1.0387-1.0428 range this morning with the rate now almost glued to 1.0410 which holds a A$250 mln option expiry today.

There were reports earlier of some ‘directional’ names selling, but this has been mopped up in the 1.0380’s by exporters/corporates. Sell stops are now touted on a break of 1.0370. Offers remain from 1.0425/35 up to 1.0450, with larger up at 1.0460/70 ahead of technical resistance at the daily tenkan line 1.0479

AUD’s currently trading around 1.0415