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Forex Flash: RBA keen to scare off AUD inflows - Societe Generale

The RBA meeting comes in a few hours (3.30GMT) with almost null expectations of a rate cut. Ahead of the risk event, the AUD has been performing pretty well, with Societe Generale FX strategist Sebastien Galy noting that "AUD like other commodity currencies seem to be benefitting from some fairly strong reserve diversification flows."
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Forex: EUR/JPY retesting 119.50; Nikkei below 2%

The Japanese Yen is strengthening across the board at the Tokyo open, building up on recent gains from Monday, with reports suggesting that speculative positioning were recently greatly reduced says Sean Lee, founder at FXWW, who still thinks that players will be looking to buy any big exhaustive dips looking to join the overall bull trend.
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