We touched a low of 80.16 ahead of a barrier at 80.00 with large sell stops reportedly set on a break of the level.
The move’s been largely driven by AUD/USD momentum accounts and real money selling, but exporter bids towards 1.0050 have so far stalled a further drop ahead of sell stops down through 1.0040. USD/JPY bids in the 79.70’s, supposedly semi-official, are also adding some support to the cross for the time being.
AUD/JPY’s presently around 80.35
