Monday’s risk rout saw the commodity currencies get pummelled earlier this week, but they are endeavouring to claw back their losses. The Aussie has been the worst hit major, falling on the week and also on the month and is lagging the other commod-$s today. Virus lockdowns are still in place in Australia and extending to other states while retail sales disappointed overnight, falling 1.8% m/m versus an expected decline of 0.7%. AUD/JPY below major SMA The ultimate risk gauge as a currency pair has historically been AUD/JPY. Prices fell from a high of 85.80 in mid-May and broke the long-term support line soon after. ... (full story)