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Strong Aussie data helps AUD/JPY to above 108 for the first time in over 30 years today
Earlier today there was some strong economic data out of Australia. The Australian PMI data in services and composite readings both beat the street and so did the latest retail sales numbers, doubling markets estimates. The latest building approvals data was significantly higher too. That all helped to push the AUD/USD closer to the 0.6700 handle again, at the same time as the USD/JPY is right on the highs seen yesterday, very close to 161.75. So, all those components have delivered a move above 108 in the AUD/JPY for the first time since 1991. The high seen so far has been set at 108.01. The AUD/JPY closed in the US last night at 107.64. It is just now trading at 107.94
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