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J.P Morgan:JPY: The Japanese yen is little....>

FOREX
FOREX: J.P Morgan:JPY: The Japanese yen is little moved against the dollar this
morning as both the US and Japan have holidays today. Trading volume was
extremely light in the pair overnight, as the currency traded in the narrow
range of 112.50-112.70 for the most part, with the exception of a brief slide as
the Turkish lira fell. There will be no data out of Japan or the US today. Later
this week, out of Japan we will see current account numbers on Tuesday, private
machinery orders on Wednesday, and corporate goods prices on Thursday.
AUD: The Australian dollar is trading modestly weaker against the US dollar this
morning, as iron ore futures declined and China's Caixin Media and Markit
Economics' September composite fell to 51.4 from 52.4 in August. Meanwhile, NZD
led G10 losses, dropping to its weakest level in four months after final
election results showed the two main political parties are each in a position to
form a viable coalition government. AUD/NZD touched as high as 1.1025 in the
midst of this political uncertainty, but both currencies underperformed the
broader G10. Later this week, we will see NAB business confidence on Tuesday and
housing finance on Thursday out of Australia.

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