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JPY and AUD weaken – TD Securities

FXStreet (Barcelona) - Analysts at TD Securities see JPY and AUD weaken after a LDP lawmaker comments on the JPY election and a senior RBA official mentioned FX intervention respectively.

Key Quotes

“In terms of headlines in Asia, however, we had a LDP lawmaker state that PM Abe was calling an election (but no official confirmation yet from the PM) and a senior RBA official mentioned FX intervention had “not been ruled out” in a Q& A session. In both instances the JPY and AUD weakened but the moves lower were more measured this time, unlike the moves of the past few weeks that would have implied much sharper declines.”

“The AUD and the JPY are the worst performing currencies vs the USD down 0.2% at US$0.87 (was at US$0.8735 pre RBA comments, was as low as US$0.8672 post comments) and ¥115.75 respectively (did weaken from ¥115.60 to ¥115.88 on election comments). “

“Bond yields are slightly higher in our time zone, ACGBs +1bp and NZGBs are 1.5-2.5bps higher while US 10yrs are un-changed. There was no market moving Australian data, but NZ data reports were positive.”

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