13 Mar 2014
AUD/JPY tumbles to 91.50 on risk aversion
FXStreet (Córdoba) - The AUD/JPY failed to hold to gains and plummeted during New York trading amid risk aversion, losing more than 250 pips. The pair bottomed at 91.51, the lowest price in a week.
On Asian hours, a stronger Aussie pushed the AUD/JPY to break above 93.00 and peaked at 93.40 but then reversed sharply, erasing all gains in three hours as the Yen soared across the board.
The pair finished Thursday hovering below 92.00, posting the fifth consecutive daily decline and the lowest close since March 5.
AUD/JPY trimming March gains
Last week the AUD/JPY jumped from 90.20 to 94.45 (March 7 high) but then started to correct lower accelerating on Tuesday and once again on Thursday. Currently trades at 91.90, a hundred pips above February’s closing price but 250 pips below March highs.
On Asian hours, a stronger Aussie pushed the AUD/JPY to break above 93.00 and peaked at 93.40 but then reversed sharply, erasing all gains in three hours as the Yen soared across the board.
The pair finished Thursday hovering below 92.00, posting the fifth consecutive daily decline and the lowest close since March 5.
AUD/JPY trimming March gains
Last week the AUD/JPY jumped from 90.20 to 94.45 (March 7 high) but then started to correct lower accelerating on Tuesday and once again on Thursday. Currently trades at 91.90, a hundred pips above February’s closing price but 250 pips below March highs.