AUD/JPY Slips as Fiscal Concerns Weigh on Yen, Capping Aussie Losses
The Australian dollar snapped a two-day rally against the yen on Thursday amid fiscal concerns that pressured the Japanese currency, limiting the pair’s downside.
AUDJPY
The AUD/JPY cross declined on Thursday, breaking a two-day winning streak as the Australian dollar struggled to hold gains. The pair’s pullback comes despite a broader bounce this week from multi-week lows.
Fiscal concerns in Japan continued to weigh on the yen, which helped limit the Aussie’s losses. The dynamic left the cross in a tug-of-war, with downside pressure from Aussie weakness but a floor from yen softness.
Source: FXStreet Forex News