In typical cross-trading fashion, firstly USD/JPY moved 30 pips higher and now pairs like AUD/USD and EUR/USD are starting to rise, meaning that the JPY crosses like EUR/JPY are 60 pips higher on the session. Corporate flows tend to be Yen-negative on these ‘Gotobi’ days and that is undoubtedly helping the move along with the mildly positive risk sentiment.
Risk trades catch an updraft
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