The JPY lost ground to the USD on Tuesday as risk appetite showed signs of increasing within Asian bourses. The Asian economies continue to be the subject of intense discussions regarding their long term prospects particularly when compared to one another – such as China, Korea, and Japan. Safe haven trading has been a cornerstone of the JPY since the outbreak of the global financial crisis and the Japanese currency remains at the stronger parts of its range versus the Greenback. The price of Gold continued to struggle yesterday and as it sunk to around 1163.00 it did show signs of its consolidation finally weakening. Gold must be continued to be watched carefully along with other precious metal prices such as Silver. The recent lack of strength in their prices suggests that more risk appetite may be brewing.
Written by bforex.com
