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Focus remains squarely on the Yen

USD
  • The Dollar is starting the session on the back foot across G10s, CHF and JPY are flat post Cash Govie open.
  • The AUD was in the early lead but has faded somewhat, and has been overtaken by the SEK, with Stokkie up 0.18% in early trade.
  • AUDUSD continues to trade in a 0.6577/0.6714 range since the 9th May, with the May's high of 0.6714 holding throughout May and June, tested multiple times during that period, and is also the highest printed level since 12th January.
  • Focus in FX is still squarely on the Yen, USDJPY broke back above 159.00, but has lacked momentum.
  • The Pressure on the Yen, is pushing the AUDJPY to a new 17yr high, and now eyeing a test to 106.00, while the next key level is situated at 107.873, the 2007 high and the highest level since 1991.
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