There could be a sharp AUD/JPY sell-off in Oct - Westpac Downside risks are growing for AUD/JPY in October, notes Sean Callow, FX Strategist at Westpac. Key Quotes "AUD/JPY has scope for a probe of 90 as Australia’s economic momentum keeps alive the chance of further RBA easing but more potently, the global risk environment is likely to be soured by the US budget and debt ceiling battles." "While we view AUD/JPY multi-month as a buy on dips, there could be a steep selloff during Oct (say 86 handle) if the US political standoff extends very close to default date.
Posted on: Thu, 26 Sep 2013 04:23:16 +0000
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