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Thomson Reuters
Oct 08 - 09:48 PM
AUD/USD - Pressured Early By AUD/JPY Selling
First appeared on eFXplus on Oct 08 - 08:25 PM
  • AUD/USD dipping below 0.7070 as AUD/JPY down around 0.25% on Tokyo sales
  • China concerns bound to weigh on AUD as US/China trade tensions persist
  • China RRR cut seen by many as a sign of economic weakness worsening in China
  • It is also seen as making their efforts to stabilize CNY more difficult
  • AUD/USD buyers between 0.7o40/50 helping to underpin pair for now
  • Sellers between 0.7080/90, which was former support for the AUD/USD

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