Published at 23:14 (GMT) 03 Nov

USDBRL

All quiet on the Yen front so far in Asia Pacific trade after yesterday's Japanese holiday, with as yet no sign that the scaling back of RBA rate hike expectations after a less hawkish than expeceted communiqué is prompting a pull back in short yen positions beyond what we saw in the post-RBA Asia and European morning sessions. The recovery in equities, led by news of Berkshire Hathaway's $26bn purchase of one of the largest US railroad company's, BNSF and which Warren Buffett describes as an 'all in wager' on America's economic future, tells much of the story about the AUD and hence AUD/JPY recovery off the European session lows. Positive US auto data after the US close (10.4mn saar up from the 9.2mn saar post cash-for-clunkers Sep dip, have helped the S&P futures re-open in the black. RA