JPY & AUD – Range Bound And Cautious

The JPY and AUD both traded in fairly tight ranges on Wednesday. Asian bourses continued to turn in mixed results as fallout from the strong JPY continues to create havoc with Japanese equities, but in turn helps some of its competitors such as the Korean auto manufacturers. The AUD is still under the shadow of the uncertainly that is emanating due to the unknown leadership of the Australia government. Gold has been strong the past few days and as of this morning is around 1240.00 USD per ounce. Gold has certainly found additional support due to the international concerns regarding another economic downturn.

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