The Aussie dollar recovered nicely from the Capex-induced fall during the European session last night. That took it up to a high of 0.7912.
But once US traders got their feet under their desks and the US data was released, US dollar buying across the board began. The Euro crashed close to 2 cents and WAS back near January’s lows, the Canadian dollar fell more than a cent and a half.
So against this backdrop, the Aussie dollar was dragged along for the ride.
It’s at 0.7784 this morning.