The AUD Was Weak To BreachTthe High Water

The AUD was weak to breach the high-water mark set in the aftermath of the midweek domestic employment report having traded as high as 93.29 U.S. cents.

It spent the remainder of Thursday heading sideways and lost its luster in Friday’s session as the shine was taken from risk appetite.

Yet at 92.53 cents the Aussie remains reasonably close to its three-month peak at a little above 94 cents. Risk appetite for the Aussie stems from buoyant domestic activity but needs support also from developments in the United States.

That was a little shy on Thursday in terms of that sub-par retail sales and the impact has been amelioration in investor appetite for Aussie dollars.

The Japanese Yen Climb Hard Overnight

The Japanese Yen climb hard overnight as funds and model selling drove down the euro to ¥130.31, its lowest level in at least three weeks.

The yen rose against the AUD to ¥84.09 while against the pound it rose to ¥148.09.

EUR – While a German government official was soon to deny the resignation rumors.

The harm to the euro was already entrenched as Asian markets sent it headlong down the mineshaft triggering stops and encouraging model fund selling.