Australian dollar finds bids ahead of 0.7050 - orders

The Australian dollar is down a half-cent to 0.7081

A two week rebound in the Australian dollar was dashed by the round of risk aversion that has followed the Fed.

The low so far is 0.7057 and the pair has edged higher to 0.7081 in the past few hours.

Bids are cited at 0.7050, 0.7036 and ahead of 0.7000 but nothing in large size until 0.6950 down to 0.6934. Large demand also at 0.6900.

There are some offers at 0.7126 building and reported small offers at 0.7150.

For more on the perils of the Australian dollar check out

• 'Australia is toast' foreign investors tell NAB
• Four reasons why Goldman Sachs expects the Australian dollar to fall further
• Early this month, I argued for AUD/USD longs targeting 0.7213 (and again here)