Germany 10-y Bond Auction fell from previous 2.92% to 2.68%

Australian Dollar (AUD) is likely to trade in a 0.6250/0.6300 range vs US Dollar (USD). In the longer run, increase in momentum indicates AUD could continue to decline, but it is too early to determine if it can reach 0.6185, UOB Group’s FX analysts Quek Ser Leang and Peter Chia note.