[AUD/USD]

[AUD/USD] fell to intraday low around 0.6970 before finding buyers there bringing it back to a fresh intraday high around the 0.7015/20 level ahead of the RBA Minutes. Real money investor types and fund types were buyers near the lows. The pair was also given a prop by Japanese lifers and sec house buying the Aud/Jpy cross from around the 68.20/30 level to an intraday high around the 69.00 handle. The pair has since retreated back to the 0.7000 handle on the back of a slightly dovish RBA Mins where they saw scope for modest reduction in interest rates and where demand and output was weaker than previously expected.