Choppy afternoon in AUD/USD and AUD/JPY. Some profit-taking late in the session as stocks slipped from their highs say AUD/USD fall quickly from 1.0444 to 1.0420. USD/JPY slumped from 82.15 to 81.99.
Imp[ortant support for USD/JPY remains in the low 81.80s. We heard jawboning from the MOF last time we probed those lows last week.
The S&P closes up 0.75% after being up 1% at its best.
Not a bad start to the second quarter for equities, all this considered. We basically matched last week’s high, the highest since 2008.
