AUD/USD was the big mover on Friday night and it has continued on in the same vein this morning, tripping stop-loss buy orders above .9010. Interbank dealers say that there are more stops placed above recent highs at .9080 and they may come into play later, depending on what the BoJ does and it’s effect on the JPY crosses.
On the election front, there has been no significant progress made in the formation of a new government and it is likely to stay that way until the end-of-the-week at the earliest.