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The AUD against the YEN proves to be very interesting.

Written by Sam Coxhead on March 30th, 2012.      0 comments

4:55PM (NZT) The YEN continues to maintain pressure on the AUD. Wavering stock markets, and the increasing odds of a RBA cut to the cash rate as early as next week  have led the move. Japan, and the Tankan manufacturers survey results on Monday will hold the initial focus. These come ahead of the Australian retail sales and RBA announcement on Tuesday. A sustained break of the 84.50 level is needed to open up the way for further moves lower for the pair. Initial upside resistance remains in place at 87.50. This pair will make interesting viewing if we see further share market moves lower in the coming weeks, coupled with lower Australian interest rates.
 
The current interbank midrate is:                                                            AUDYEN 85.50                              
                                                               
The interbank range so far this week to date has been:                 AUDYEN 84.58 – 87.59              
 

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