With the overnight equity market moves being followed by the Asian equity indices this morning it is no real surprise that we are seeing the JPY and USD weakening in somewhat muted trading as we all wait with baited breath to see what magical words of wisdom the G20 can enlighten us with. The AUD/USD has run up to a high of 0.7024 with better than expected trade balance numbers helping its cause with some solid AUD/JPY buying also seen.
The EURO and Cable are all trading just off their highs today and barring anything shocking coming out of the G20, while the equity markets continue to rally we will see an increased appetite for risk and hence a weaker USD and JPY.
