The JPY continues to trade near the highest realms of its value against the USD as Asian bourses, particularly the Nikkei recently, have taken a cautious approach. The JPY serves as a good reminder that even as risk appetite trading appears to be in vogue among EUR and GBP traders that a certain amount of ‘safe haven thought’ exists in the markets. Commodity prices worldwide continued to be stronger on Friday and the AUD proved that it values derives a certain amount of momentum from these correlations. Gold climbed to above 1180.00 USD and Crude Oil and Grain prices were stronger in the commodity exchanges. The million dollar question is if there is actual increased long term purchasing among producers or if this is a short term speculative drive.
Written by bforex.com