AUD/USD down to session low

The Australian dollar dropped to 0.7030 quick move as it hit stops below the support at 0.7050.

The catalyst is a souring of risk sentiment as the S&P 500 decline extends to 18 points at 1902. Earlier today, the index traded as high as 1927. Oil shares are helping to lead the market lower on a 2% turnaround in crude on less damaging forecasts for Hurricane Joakim.