Australian dollar remains range-bound

The Australian dollar remained largely in recent ranges in choppy trade yesterday, as Britain's share market gained for a fifth straight day. The gains were led by banks after Barclays beat profit expectations. Investors will eye key UK trade data today which will give a better picture of how its export market is faring. The EU is Britain's largest market and the rapid downturn there is unlikely to bode well for UK exports. Markets will also focus on the US government’s release of its banking rescue plan. Given that the UK relies heavily on its financial sector this will be of particular importance.