Australian Dollar Outperforms, Japanese Yen Loses Ground

The Australian dollar rallied 100+pips against the greenback following the rebound in risk appetite and the higher yielding currency may continue to appreciate as investors speculate the Reserve Bank of Australia to tighten policy throughout the second-half of the year, while the Japanese Yen remains the only currency lower on the day, with the USD/JPY rising to a high of 91.46.