Some analysts believe Beijing could also deliver 2 trillion yuan ($296.21 billion) worth of cuts in taxes and fees as part of a stimulus package. The Aussie dollar was just a fraction lower at $0.7194, snuggled between support at $0.7180 and resistance in the $0.7226/35 area. The kiwi likewise was a shade easier at $0.6810, having trod a tight $0.6801/$0.6846 range overnight.
All the action had been in sterling, which slid as far as $1.7634 ahead of the parliamentary vote on Brexit, only to rebound all the way back to A$1.7859 after it. In New Zealand, data showed electronic retail card spending dropped a sharp 2.3 percent in December. The series covers about 68 percent of core retail sales in the country.
Some of the pullback was due to a fall in petrol prices, but other sectors also saw weakness, with the largest decline in spending on durables since late 2010. Bond markets were quiet, with Australian the three-year bond futures up 1 tick at 98.230. The 10-year contract rose 1 tick to 97.7200. Yields on New Zealand government bonds dipped around 1 basis point across the curve.
Lawmakers defeated Prime Minister Theresa May's EU divorce deal by a crushing margin of 230 votes, the worst drubbing in modern British history.