by Chris Becker
Without a positive lead from Wall Street, and the drag from Europe, local stocks sunk today, the ASX200 down 1%, led by bank stocks. The RBA gave no further relief to the market with its monthly interest rate meeting, holding fire and not adding to any easing bias, which gave traders in Aussie dollar a hard time to discern what was going on.
The Pacific Peso began to fall on the open of trading this morning, falling nearly 40 pips to the 75 handle against the USD, before it staged a sharp recovery on the RBA meeting, reaching nearly 50 pips to 75.45 before slammed thereafter. Going into the London session its looking particularly weak with trailing resistance at just above 75 cents probably too far to reach:
