Forex Flash: AUD/JPY rally showing signs of fatigue – Westpac
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AUD/JPY
FXstreet.com (Barcelona) - Sean Gallow of the Westpac Global Strategy Group has been surprised by the strength of the recent AUDJPY rally but is starting to see signs of fatigue.
His base case is for a pullback from the low 86s near term to 84 by year end. Certain factors to weigh on the pair include a likely RBA rate cut next week and disappointment over what Japan leader Abe can actually deliver in terms of JPY weakness.
His base case is for a pullback from the low 86s near term to 84 by year end. Certain factors to weigh on the pair include a likely RBA rate cut next week and disappointment over what Japan leader Abe can actually deliver in terms of JPY weakness.
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