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AUDJPY breaking 112 by end of month
Watching $AUDJPY closely. It's been range-bound for a bit, currently at 111.526, after hitting 111.673 today. Given the recent strength in commodities and the general risk-on sentiment, I'd put the probability of it clearing 112 by month-end at around 65%. The daily range has been pretty consistent; a sustained break above 111.70 could indicate further upside momentum. We haven't seen a significant catalyst for a sharp reversal yet, so a grind higher seems plausible. If the $BBL decline continues, though, that could be a headwind for AUD.
1 comments · 1 points
That's an interesting call. I'm curious what your thoughts are on potential headwinds for the Aussie dollar, especially with all the talk about a possible slowdown in China impacting commodity demand.