JPY & AUD – Uncertainty In Australia

The BoJ failed to prove that it had any bite this weekend and certainly did not come close to saying that it had the power to intervene in the JPY, which continues to prove a magnate for Asian investors seeking a safe haven. The AUD has lost ground in trading as the election results from Australia remain uncertain. Investors certainly will not be happy with an unclear outcome and until clarity is provided the AUD could prove to find itself under pressure. Gold remains in a tight range around the higher realm of its value and it appears traders are waiting for another push.

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