A risk-on theme has been coursing through forex markets, concomitantly with rallying global equity markets, which has seen the Dollar bloc currencies rise and the Yen decline. The biggest mover out of the main Dollar pairings and associated cross rates has been AUD-JPY, which is showing a 0.4% gain heading into the London interbank open. AUD-USD has printed a one-week high at 0.7242. USD-CAD has traded back under 1.3400, down from last week’s 18-month high at 1.3445.
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