The JPY finds itself at nearly fifteen year highs against the USD as traders continue to flock into the Japanese currency. The strength of the Yen has the attention of many, but the Bank of Japan has shown a distinct lack of ability to do anything about it, even as Japan’s largest export companies are losing considerably because of the situation. The AUD gained on Friday and continues to show some solid footing. Traders are fully aware that a major election will be held in Australia in the short distance and besides the possibility that some are positioning themselves for these results, the economy there continues to produce relatively good results compared to other major economies.
Written by bforex.com