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A$ Holding Above 0.6800, AUD/JPY Up 1% From Wednesday Session Lows

AUD

AUD/USD sits close to session highs, last near 0.6810 (highs of 0.6814). This is through Wednesday highs and around +0.30% above NY closing levels. Only NZD is outperforming in the G10 space, (+0.45%).

  • A move above 0.6828 a retracement level, would open up mid June highs around 0.6900. Yesterday's intra-day low remains some distance south at 0.6682.
  • The better tone to regional equities and higher US equity futures is aiding antipodean FX. AUD/JPY is now tracking around 94.25, +1% above yesterday's lows.
  • We haven't seen much positive follow through in the commodity metals space, with iron ore and copper relatively steady.
  • The local data calendar is empty until next Tuesday when the RBA minutes from the July meeting are due. Earlier, July inflation expectations were unchanged at 5.2% y/y.

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