The AUD/USD pair is marginally up daily basis at around 0.7140, reversing an early decline to 0.7111 triggered by RBA Meeting's Minutes.
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The USD/JPY pair recovered the 112.00 level and trades a handful of pips above the level underpinned by the recovery of Asian stocks' markets and an uptick in US Treasury yields, as the benchmark yield for the 10-year Treasury note is up to 3.17% after spending Monday at around 3.15%, weighing on the yen.
Divided government often means that few new initiatives take place. That would be especially true now in the polarized political atmosphere in the American capital. From a market perspective, with the economic and fiscal program of the current administration fueling a strong economy, no change is good. As this is the highest possibility it is largely priced into the markets.
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