FXstreet.com (London) - Aussie dollar continues to consolidate deep into the Asian session having initially cut down some of the USD gains made late last week. AUD/USD currently trades at 0.9156/8, staying tighly rangebound between 0.9118 and 0.9170.
The pair has moved just 2 pips in the last hours of trading (from 0.9154), since our last AUD update.
Trading circumstances have not changed, and market will be eyeing any consumer spending and jobs related data, as it looks for further signs of a strengthening US and global economy. Gold movements to the downside will pressure AUD.
Gold has also consolidated at 1158.40, virtually unchanged since last report.
Asian/Pacific currencies have been rangebound this session, and this looks set to continue, according to Kshitij Consultancy Service :Range-trading should be the main story for Asian currencies as well in the run-up to X'mas and New Year now.