The BoJ entered the fray once again saying that it stands ready to act if the JPY continues to get stronger against the USD. It also went out of its way to warn ‘speculators’ that they should be prepared for the JPY to weaken when the central bank acts. However, traders may have listened to this announcement with a skeptical eye and asked themselves how the Japanese government would carry out such a move. The JPY continued to trade at high water marks against the USD on Tuesday and until there is a sea change risk adverse investors will continue to be attracted to the Yen. The AUD traded at the lower realms of a weaker range on Tuesday as Australia still tries to hammer out an election result for investors to sink their teeth into.
Written by bforex.com
