Traders reported this morning that China was a buyer of AUD on dips to the 0.9140 level. Why buy at those relatively lofty levels? Either they are having trouble finding places to park their reserve stash or they are playing the options game of defending 0.9200 barriers and opportunistically covering those shorts when they get the chance. My vote is with the latter view.
AUD/USD trades on a firm note in quiet trade, at 0.9162.
