Forex Flash: Yen bears v Gold bears - DBS Group

FXstreet.com (Barcelona) - DBS Group analysts note that the recent decline of Gold and the apparent tracking of its post decline price action by USD/JPY, has pitted Yen bears against Gold bears.

They see that this struggle poses a challenge to USD/JPY to move up to and above the psychological 100 level and with China moving the USD/CNY parity fixing lower, its no wonder that Asia ex Japan currencies have found more comfort in appreciating gradually with the Chinese Yuan.