• NY opened near 0.7215 after AUD/USD hit a 4-month high of 0.7238 overnight

• The pair rallied early with help from gold, silver gains & broad-based USD selling

• US yields , USD then rallied sharply after the US Treasury buyback news

• Stocks added to losses while gold, silver moved downward, AUD/USD hit 0.7210

• The USD then weakened while stocks moved up & gold, silver, copper allied

• AUD/USD sat near 0.7220 late, it traded up +0.06% in NY's afternoon

• Daily & monthly RSIs indicate upward momentum but a daily doji formed

• US August PPI is a key data risk for Thursday
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(Christopher Romano is a Reuters market analyst. The views expressed are his own)