HALISTER1: INSIDE G-10: Aussie Climbs Ahead of RBA Decision; Yen Whipsaws

INSIDE G-10: Aussie Climbs Ahead of RBA Decision; Yen Whipsaws

(Bloomberg) -- Aussie leads G-10 gains versus dollar amid expectations the RBA will hold its benchmark rate; kiwi also rising on bets for a strong dairy auction later today.
  • AUD/USD touches 0.7632, strongest since Aug. 26, ahead of RBA Gov. Stevens’s final central-bank meeting; Aussie also supported by a 2Q current-account deficit that came in smaller than forecast
  • USD/JPY whips around, caught between early yen-cross buying and selling after Abe’s adviser Hamada said BOJ should wait for Fed decision before making any move itself
    • JGB 10-year yields are in focus as they are poised to move out of negative-yield territory for first time in 6 months
  • BBDXY index falling for second day, down 0.05% to 1,181.52
  • NZD/USD holding above 0.7300 as investors prepare for dairy auction; whole milk powder futures are trading close to 11- month highs
  • NOTE: Mark Cranfield is an FX strategist who writes for First Word. The observations he makes are his own and are not intended as investment advice.
Alert: HALISTER1
Source: BFW (Bloomberg First Word)

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