Forex - AUD/USD down as Japan reactor explosion hits risk appetite
Investing.com
Published Mar 14, 2011 04:27AM ET
AUD/USD hit 1.0064 during late Asian trade, the daily low; the pair subsequently consolidated at 1.0070, shedding 0.65%.
The pair was likely to find support at 0.9968, Friday’s low and a two-week low and resistance at 1.0157, Friday’s high.
Earlier in the day, Japan’s Ministry of Economy, Trade & Industry said a hydrogen explosion had occurred at reactor three in the nuclear power plant in Fukushima, north of Tokyo, two days after an explosion hit reactor one.
Officials said the reactor core was still intact and that radiation levels were below legal limits.
The Bank of Japan announced earlier that it was pumping a record JPY15 trillion into the financial system and doubling the size of its asset-purchase program to JPY10 trillion.
The Aussie was also sharply lower against the euro, with EUR/AUD climbing 0.70% to hit 1.3811.
Also Monday, Japan’s Prime Minister Naoto Kan said the situation at the nuclear plant was alarming, and the earthquake had thrown Japan into "the most severe crisis since World War II".
Get The News You Want
Written By: Investing.com
Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.