The yen gave some ground early in today's Asian session. However, it seems capped at the moment as investors keep a close eye on the Nikkei 225 as further Japanese stock losses would probably underpin the JPY. The Nikkei is now 0.57% higher since the opening, and the USD/JPY has gained almost 1%, and is currently trading at 101.90. In addition, the euro broke the 1.2900 level and traded at lows of 1.2883 against the greenback. The Aussie seems to have no stop in the recent fall, and is now trading at 0.9625 against the American dollar. The news calendar is relatively light for the day ahead.
Trade Idea
AUD/USD Weekly Chart:
We eye a break below 0.9580 area which may open the way for more losses for the Aussie. But penetrating that area is vital for a renewed short interest.
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