Since my last post on the AUD an hour ago, AUD/JPY has fallen by 20 pips and still looks heavy. There are some rumours of investment bond redemptions today which would normally lead to some increased Yen buying at the Tokyo fix, but I have no confirmation on this (perhaps someone can help on this news?). I’m still a little baffled as to why the market bought USD/JPY so aggressively on yesterday’s election news, as this had been widely reported over the previous days, but perhaps the market was simply bullish and wanted a reason to buy.
