Asia Recap: Yen traders await PM Abe on tax/election

FXStreet (Bali) - A sluggish Asian session for G10 FX, with traders sidelined awaiting for an announcement by PM Abe on a delay in a 2nd sales tax hike next year and a snap election to be officially called.

USD/JPY was buffeted within a tight range between 116.45 and 116.80 ahead of the PM Abe expected decision. AUD/USD traded marginally above 0.87, with China data, an uneventful RBA minutes and some softness in the USD buoying the Aussie. EUR/USD and GBP/USD exchanged hands at 1.2470 and 15650 respectively ahead of German ZEW and UK inflation data, key movers for both pairs in Europe.

Key headlines

Japan PM Abe and FinMin Aso agree on need to delay sales tax hike - NHK

Australia CB Leading Indicator fell from previous -0.2% to -0.3% in September

RBA minutes reiterates period of stability in rates

China House Price Index dipped from previous -1.3% to -2.6% in October

China FDI - Foreign Direct Investment (YTD) (YoY) rose from previous -1.4% to -1.2% in October