JPY & AUD – Ranges Will Get Tested

The JPY traded in a consolidated manner on Wednesday as bourses found some stability. The sudden weakness (albeit slight) in the JPY may be positive development for the Japanese export companies, but it will take more than a mere week’s worth of trading to convince all investors that a reversal is taking place. The AUD gained some ground on the USD yesterday and this can be directly measured with the trading in Gold, which climbed towards the end of the day – off of its lows – and into the vicinity of 1352.00 USD an ounce.

Written by