Yen’s Night, Copper High

Tuesday 8th September 2026

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Trade was thin overnight with the US on holiday, but the Yen pushed to its highest level since February, beating the US-Japan coordinated attempt to push it higher in late July. NAB’s Gavin friend says markets are assuming the BoJ will do the right thing, which would make the Yen seem undervalued. Oil is higher and could easily nudge over US$100 for Brent over the next day or two. Copper also hit a high as demand continues to outstrip supply, and traders buy ahead for fear of US tariffs coming to fruition. Today there’s a lot to focus on locally, including two interviews with RBA speakers, the NAB Business Survey and Westpac’s Consumer Sentiment report.

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