There has been US names on top of this AUD all morning, selling into bid from local corporates. Earlier, the AUD found some temporary support around the 8030 area amid talks that there may have been large toshin-related demand on the fix. There was talk of two investment launches today that were expected to generate solid AUD buying. However, this did not eventuate and AUD slipped back thru 80c on the back of the the lower than expected export price numbers.
Watch 7980 on the downside for support, under that we see 7950. Topside limited to 8050 for now, with sellers lined up above 8050 thru to 8100.
