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Gold extends gains towards $1,990 as USD/JPY falls below 150

Following on from the previous update, noting the drop towards 150 in the USD/JPY, the dollar has now extended that move to below that level and towards 149.75. That has taken both the EUR/JPY and GBP/JPY back further with it. It comes as US yields slip again and the gain in the Yen have all come to push Gold higher again. The metal already extended a rise to above 1,980 yesterday as oil fell sharply and there was clear cut divergence trade at play in those two markets. Gold closed in the US last night at 1,980.90. It has just now lifted to a session high at 1,989.18

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