JPY & AUD – Australian Election Has Investors Cautious

The JPY traded slightly weaker against the USD as Asian bourses gained. The move by the Yen however was not monumental and the Japanese currency continues to find plenty of safe haven backers. The AUD did lose some ground yesterday, but it had been locked into a very tight value all week. The Parliamentary Election this weekend is on the mind of most AUD investors and traders may be getting ready to take positions based on who they believe is going to win. The contest between the Liberal-National Coalition versus the Labor Party remains tight.

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