'Risk' moves in Asia forex, AUD/JPY higher
Sentiment is positive for risk on the session here so far, with AUD and NZD benefitting while yen loses ground
The oft-cited forex 'barometer' for risk is AUD/JPY, which is on the move:
Something as an aside, especially for AUD, is the price movement on iron ore. It has seen falls, accelerating further to the downside overnight. Curiously the negatives here are not holding AUD down. I noted in past months that huge surge in iron prices were having little impact on a (at the time) falling AUD. And now the vice versa is playing out.
Australia is a huge exporter of iron ore and a correlation has often been observed. Correlations come and go though.