AUD/USD-AUD/JPY: Edging Higher On Expected Obama Victory Sydney November 5. Obama looks like recording a victory and the AUD/USD has recovered to test 0.6940, after dropping to 0.6875 earlier, while the AUD/JPY has bounced from the low at 68.55/60 to trade around 69.25. Rising equity markets in Asia, driven by improved confidence levels, as a major uncertainty for the markets is close to being removed, is supporting the AUD. Equity markets in Asia and tonight in Europe will drive risk aversion and thus the AUD, though the new administration has no magic wand for the global problems. The AUD/USD trades 0.6930/35 and the AUD/JPY 69.20/25.
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