That and some risk-on, happy-go-lucky-fund-it-with-yen, oh-what-the-heck buying….
AUD/USD has shrugged off the jitters that afflicted it last week, from more dovish than expected RBA comments to worries of ripple -effects from the Japan earthquake, to European sovereign debt fears crimping risk appetites. All that is gone and we are left with a high-yield currency in a low-yield world.
Stops above 1.0200 were triggered earlier today and the market now has its sights set on the all time highs in the 1.0250/60 region. What a difference a week makes…
On the crosses, AUD is in particular demand versus the GBP, EUR and JPY…
