Australian employment data is due out in just over two hours and should provide us with some volatility.
The AUD was very volatile yesterday, benefitting from some big flows as funds adjusted currency weightings for the year ahead. More buying is anticipated so buying dips back towards .9875 looks like a sensible short-term play. On the other hand, the floods in Queensland and their eventual impact on GDP are likely to be a drain on the AUD so selling any major rallies, especially on the crosses, also makes sense.