JPY Trading Outlook (10-06-2014)
AUD/USD opened in Asia at 0.9352 and remained better bid between 0.9342-64. After a lackluster o/n session, it drifted lower early before bouncing on some fresh buys at the lows. Another strong CNY fix helped. Another back of Aussie data was met by yawns but did not stop AUD/USD from moving higher. Offers at 0.9365-70 helped cap the topside but stops are eyed above. Of some concern is the on-going China port commodity financing scandal.
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