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Aussie and Kiwi Fall, Yen Mildly Higher

by on December 11, 2013 2:44 pm BST
 

The yen is mildly up, potentially on the budget talks reached in Washington D.C. “There might be some profit taking given the weakness of the Japanese stock market,” said Roberto Mialich, senior currency strategist at UniCredit Bank. The modest rise in the yen caused pullbacks in Asian equities and climbed against all 16 major peers.

The yen seen a bit of resistance over 103. According to Mialich, USDJPY momentum could be waning due to the moderation of US bond yields.

The Australian and New Zealand dollar are declining quickly against the dollar ahead of a slew of data this afternoon to early evening, eastern standard time (NY). The kiwi will face the cash rate decision, Reserve Bank of New Zealand (RBNZ) press conference, rate statement and the RBNZ Governor Wheeler will speak to cap it off.

The Aussie will see inflation and unemployment data. Employment gains in Australia are inconsistent, and the unemployment rate is creeping towards six percent. After the mining boom began to fade, Australia has not been able to find its footing in broad employment.

AUDUSD trade back under .91 as quickly as it traded over, currently down .40 percent at .9092. NZDUSD is down .50 percent at .8240.

The dollar-yen retraced to 102.63.