• AUD looked at 0.7757 19 Feb low as softer NZD/stronger USD weighed
  
  
• Quiet 0.7795/0.7805 lead to sell-off with Yellen as focus
  
  
• Locals slightly confused by antipodean pair's large reaction to 2nd tier NZ data
  
  
• Price action in end exposed market's preference to cut USD shorts pre-testimony
  
  
• Relative AUD outperformance has cross returns near 1.0400 c+0.30%