AUDUSD Breakout Looms and USDJPY Tanks on Dollar Weakness

FX:AUDUSD   Australian Dollar / U.S. Dollar
AUDUSD breakout looms on dollar weakness

The catalyst behind the renewed buying pressure on the pair is a string of positive data out of China, Australia’s biggest trading partner. China’s Q4 GDP rose past the 0.2% level and 1.1% to 1.6% quarter over quarter as the year-over-year figures grew to 4%. Industrial PMI for December also jumped to 4.3%, beating the market consensus of 3.8%.

USDJPY bounce back stalls.

Chatter that the Bank of Japan could be planning an eventual rate hike at its next policy meeting on Tuesday should trigger increased volatility on the pair.

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Cryptocurrencies under pressure.

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