The Australian Dollar (AUD) tested resistance at parity for most of the day after tracking higher in Asia on the back of strong risk appetite. AUD/JPY also moved higher but many crosses were under pressure as traders pared back expectations of RBA rate hikes in 2011 after the devastating QLD floods. Overall the AUD/USD traded with a low of 0.9895 and a high of 1.0008 before closing the US session at 0.9995.
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