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The return of risk aversion pushes the YEN back higher vs the AUD

Written by Sam Coxhead on March 23rd, 2012.      0 comments

4:53 PM (NZT) The YEN has outperformed the AUD for much of this week. The lead has come from the decaying outlook for Australia’s Asian trading partners, and China in particular. The YEN has benefitted as the risk aversion increased, and it easily took back some of its recently lost ground. However late in the US session overnight risk aversion abated somewhat, and this has seen the pairing bounce from its lows as demand for the AUD picked up. Direction from the current level will again come from the wider market risk appetite, in the absence of meaningful economic data releases in either economy next week. The pair is also just below the initial resistance level of 86.20. Consolidation below this level paves the way for further investigations lower for the pair.
 
The current interbank midrate is:                                                            AUDYEN 85.98                              
                                                               
The interbank range so far this week to date has been:                 AUDYEN 85.35 – 88.64              
 

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