Like a song that keeps playing on the radio, the JPY and AUD continue to go to highs against the USD in what has become a consistent theme. A strong JPY does Japan’s export companies no good and it has voiced its concern about its currency, but the BoJ has not chosen to intervene again – as it did last month – as of yet. The AUD is at highs as commodity prices, particularly metals, are strong. The combination of the weak USD and glow of Gold has taken the AUD to near parity with the greenback.
Written by bforex.com