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Forex Flash: AUD/USD upside limited from yield persective - Westpac

The Australian OIS/IB markets continues to price in just one more rate cut with 28 points of easing implied by November, notes Timothy Cameron, FX strategist at Westpac.

"With the overhang of sub-trend GDP growth and Eurozone political uncertainty the ‘25 points priced in’ level seems to be a psychological barrier as most economists are calling for at least one more cut in this RBA easing cycle" Timothy says.

"This cap on short-term Australian rates should make it hard for AUD to find upside from a yield point of view" the strategist adds.

Forex: USD/JPY prints another fresh 3.5-year highs on new BoJ rumors

USD/JPY is currently printing fresh 42-month highs at 96.66, just few pips above of those from Friday post-NFP at 96.58, where the pair sits at this moment, off mentioned new highs. The move comes in the back of new rumors saying incoming BoJ chief Kuroda could be calling for an emergency meeting as soon as next week, in order to implement new easing measures, reported Eamonn Sheridan at ForexLive.
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