USD skyrockets in Asia, AUD and Gold getting crushed
Japan (Dec 1) The US Dollar is strengthening across the board ahead of Tokyo, with no respite for the Antipodean currencies, the Yen or gold, all getting crushed.
AUD/USD has printed a new 4.5 year low at 0.8435, NZD/USD is unable to counter-attack the USD heavy buying either, sent to 0.7785 lows, USD/JPY is a whisker away from 119.00, while Gold has broken below $1,150.00, approaching lows from 2010.
There is no particular catalyst for the latest rampage of USD buying in Asia, other than market sticking to the axiom 'the trend is your friend', while the breakout in AUD/USD is also contributing to see USD strength expanding across G10 FX space. At the moment, and as has been the case for some months, there is no currency that can challenge the US Dollar, with the DXY threatening to break a major resistance area at 88.50.