Huge selling from the US overnight from 1.0250 down coincided with Bernanke’s testimony to the Senate Banking Committee. And its not like Mr. B really said very much.It seems risk has become a four-letter word again since the Italian election.

For today, topside:

  • 1.0295/05 sell orders
  • Initial sellers at 1.0240/50


  • Buying ahead of rumoured barrier-option related buying at 1.0200. Still Australian exporter bids lower down.
  • Stops below 1.0190

Some discussion in the overnight press to be aware of:

Another RBA board member speaks out on the high $A

Debelle vs. Corbett

Also, RBA monetary policy board meeting due on Tuesday, March 5 – no interest rate changes are expected.