Mingze Wu | Jul 15, 2013 06:32AM ET
It took a little while, but USD/JPY is moving towards 100.0 again after breaking the 99.50 ceiling. This move was sparked by the strong risk appetite during European hours which saw Dax gaining 0.47%, FTSE by 0.66% and Stoxx by 0.51%. This shows that USD/JPY is highly sensitive to risk appetite right now, as price is moving higher when other USD based pairs such as EUR/USD and AUD/USD are trading flat. This observation is also applicable during Asian hours, where Asian stocks were trading flat with Nikkei gaining 0.23% while Hang Seng clocked in +0.12%.
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