But a slow grind at that.

RBA lack of intevention talk has kept the tone firm, but there’s a lot of offers to wade through ahead of 1.0500, particularly towards 1.0550 , which may hold a barrier.

Some talk in the street of demand from sovereign names this morning, but as yet i can’t confirm. Hearing bids are similarly thick below starting from 1.0450 down to 1.0420 with sell stops through 1.0420.

Doesn’t bode well for much of range, but you never know…..

AUD’s around 1.0493 after a recent 1.0497 day’s high