The Australian dollar remains resilient while the Japanese yen goes with the rest of the currencies giving in to the US dollar.
The result is a new record high for AUD/JPY.
The new high at 97.11 is the highest level since June 2013, more than one year ago. The current move is a break above the levels seen earlier in the week.
The road up for the cross wasn’t that easy. Here is what happened back in July: AUD/JPY Nosedives Despite Positive Chinese GDP.
The tables have certainly turned in favor of the Australian dollar. Only the Canadian dollar is enjoying similar relative strength at the moment. All the rest, including the kiwi, are falling against the strength of the US dollar, which enjoys the lack of Fed dovishness.
Here is a live chart:
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