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AUD/USD prints lowest at 0.8730 amid broad-based USD strength

FXStreet (Bali) - AUD/USD opened the Asian interbank session with sharp losses at 0.8740, printing its lowest at 0.8730 according to market sources, after a 0.8795 NY close last Friday.

The big mark down was blamed on weak China PMI over the weekend - 50.8 vs 51.1 exp - and broad-based USD buying, led by another 0.5% rise in USD/JPY in early trading. Thin liquidity - Tokyo on holidays today - is something to be aware of today as well.

AUD/USD sees important area of intraday support at 0.8700 - Oct 24 low - ahead of key 0.8650, which has been defended successfully over the past month. The RBA monetary policy meeting on Tuesday, in which the CB is expected to keep its neutral rhetoric, is the next focus of attention.

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