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Forex pairs in this Article » USD/JPY (Barcelona) - According to the Westpac Strategy Team, "From the perspective of the yen, it seems likely that in the near term that currencies such as KRW will maintain a fairly strong positive correlation with JPY (i.e. upside in USDJPY will continue to bias USD/KRW higher) - rhetoric around JPY/ KRW weakness from Korean officials still appears to be quite strong."

Moreover, "It is probably a similar story for USD/TWD, although from a fundamental perspective we see Taiwan less exposed than Korea to a weakening yen - equity investors seem to have a similar outlook." the team adds. Flows in Taiwan equities now stand at +USD $1.5B in the past 7 trading sessions and Taiwan equities are trading through recent highs and we would also note that the growth pulse has started off 2013 on a firm footing.
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