AUD/JPY clobbered Tuesday and early Wednesday on flight-to-safety trade
FXstreet.com (Barcelona) – The AUD/JPY‘s decline Tuesday was the epitome of the “risk-off” or “flight-to-safety” trade. Traders sought out the perceived safety of the Yen while fleeing the perceived risk of the Aussie Dollar.
AUD/JPY will continue to reflect global risk appetite Wednesday
With only the Australian Construction Work Done numbers due out Wednesday (and no Japanese data due out), the AUD/JPY will likely continue to be utilized by global traders as a proxy for the “risk” trade. It is clear that managers who desire to hold onto their core holdings but who want to hedge their risk …read more