The JPY maintained its strong stature on Monday as investors did not back away from buying the Japanese currency even at its highest values. The JPY continues to test its strength against the USD and this is likely to continue in the current environment. The shadow that the Bank of Japan is casting continues to loom but for the time being has been quiet. The AUD did lose some ground moderately on Monday and this came in the wake of a stronger USD and a small decline in the price of Gold.
Written by bforex.com