These three currencies are showing the single most important trademark of a bullish currency; they ignore bad news. The AUD keeps bouncing back regardless of floods, CPI data etc. The CHF gets talked down by the SNB but every dip seems to meet relentless buying interest. Similarly with the JPY, USD/JPY is close to historical lows and the BOJ is determined to get it higher but it’s really having trouble rallying. These trends have been in place for well over 12 months now and are showing little sign of reversal just yet.