Forex: AUD selling after Moody's, Swan comments

FXstreet.com (San Francisco) - The Australian dollar has found another wave of selling interest after Moody's changed Western Australia's rating outlook to negative, and after some comments by the nation's Treasurer Swan, saying that GDP growth is much softer than expected and that a budget surplus is 'unlikely,' which may reduce the rate cut pressure on the RBA. After a bit of whipsaw activity, AUDUSD is back trading at session lows, and last exchanges around 1.0465. EURAUD is now trading back at the top of its intraday range, last at 1.2635. AUD bears are threatening to make further damage.