[Jason_Lim]

AUDUSD remained buoyant during the Asian session and recorded fresh highs of 0.8775. Gains were broad based, with AUDJPY also holding up after it made an earlier high of 79.80 before edging lower amid reports of option related offers towards the 80.00 level. One particular cross that grabbed some attention is AUDGBP after it recorded 13- year highs of 53.11 as contrasting interest rate
policies encouraging further long positioning. Aussie should continue to trade on a firm footing, with equity markets and commodities holding up as global economic recovery hopes boost appetite for the global reflation trade, which is synonymous with Aussie outperformance. NZDUSD traded back in to Wednesday's highs in Asia and recorded a 0.7154 peak before it turned back in to 0.7130. There were reports of good two way interest, with residual options selling above 0.7150 and mooted profit take orders. On the other side of the ledger buying interest was still heavy, with leverage account and CTA activity still prevalent in to the 0.7120-30 area, leaving a narrow range at firmer levels. Kiwi should remain underpinned, with equity markets and commodities benefiting from a broad upturn in risk appetite.