AUD/JPY Climbs on Yen Weakness Amid RBA Decision Attention
AUD/JPY rose 0.70% on Monday to around 112.25, lifted by broad Japanese Yen selling while the Australian Dollar held firm ahead of the Reserve Bank of Australia’s policy meeting.
The Australian Dollar advanced against the Japanese Yen to start the week, with the pair trading near 112.25, up 0.70% on Monday. The move was driven primarily by weakness in the Yen as markets assessed Japan’s fiscal challenges.
The Australian Dollar retained its strength as traders positioned for the Reserve Bank of Australia’s upcoming monetary policy decision. The central bank’s rate outlook and commentary are expected to set near-term direction for the Aussie.
Sustained pressure on the Yen, coupled with cautious optimism around the RBA’s stance, kept AUD/JPY bid through the session.
Source: FXStreet Forex News