AUD is the heaviest of the majors today - BBH

Research Team at BBH, notes that the Australian dollar is the heaviest of the majors today; giving up almost 0.5% to the greenback. 

Key Quotes

“Its losses, like the euro, come despite favorable economic news.  In Australia's case, the favorable news took the form of a smaller trade deficit.  The August shortfall was A$2.01 bln.  The median expectation was for an A$2.3 bln deficit.  The July series was revised almost A$300 mln better to an A$2.12 bln deficit. 

The $0.7700 area has proved a formidable cap, and once again the Aussie has been turned back from it.  It has been sold through the $0.7590 low seen at the end of September.  Today's low, a little ahead of $0.7575 coincides with the 50% retracement of the rally since the mid-September low near $0.7450.  The next retracement is found near $0.7550.”