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Jun 18 - 10:55 PM

AUD/USD - Rally Extends On Carry Demand; AUD/JPY At 11-Year High

By Krishna K  —  Jun 18 - 10:00 PM
  • AUD/USD up 0.15% in quiet Asian markets, boosted by carry demand versus JPY

  • Higher-for-longer RBA rate stance lifts AUD/JPY to 11-yr high, underpins AUD

  • Steady RBA policy, low volatility in rates attractive for carry trades

  • RBA vigilant against inflation, discussed whether to raise rates Tuesday

  • Odds of RBA Dec rate cut fall to 35% from 62% before rate announcement

  • First RBA 25 bps rate cut not fully priced in now until May 2025

  • Australia-Japan yield differentials stay wide as BOJ vacillates on rate hike

  • AUD/JPY resistance at 105.43, high in 2013

  • AUD range in Asia 0.6656-0.66675; AUD/JPY range 104.98-105.22

  • For more click on FXBUZ

Source:
Refinitiv IFR Research/Market Commentary

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