• NY opened near 0.6290 after 0.62815 traded in Asia, rally extended early

• US yields , US$ softened after US consumer spending, PCE reports

• AUD/USD rallied to 0.6312 but sellers emerged & gains were erased

• Anemic US spending fueled concerns that US economic growth is slowing

• Safe-havens were sought on risk-off; stocks , AUD/JPY dropped

• USD/CNH climbed back in to positive territory to reinforce risk-off

• AUD/USD hit 0.6285 then bounced, sat near 0.6290 late, was down -0.23% late
audusd

(Christopher Romano is a Reuters market analyst. The views expressed are his own)