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-YEN: Edging Higher

AUSSIE

AUD/JPY pushed higher yesterday, as the White House said that they could support something more than just a skinny fiscal stimulus bill, and topside momentum has carried over into the Asia-Pac session. The rate has added 8 pips thus far (alongside an uptick in e-minis) and trades at Y76.07 as we type.

  • Japanese earnings and spending continued to decline in August, roughly in line with expectations.
  • Australian housing finance data & the RBA's FSR are due later today.
  • A break above Oct 6 high/50-DMA at Y76.17/25 is needed to open up Sep 10 high of Y77.74. On the flip side, a dip through Oct 2 low of Y74.93 would shift focus to Sep 24 low of Y73.98.

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