AUD/JPY Recovers as BoJ Holds Rate, Yen Weakens
AUD/JPY extended gains during Asian trading, supported by the Bank of Japan's decision to keep interest rates unchanged, which kept the yen under pressure.
AUDJPY
The AUD/JPY cross built on the previous day's rebound from levels below 111.00, the lowest since April 7. Strong positive traction during the Asian session pushed the pair higher after the Bank of Japan decided to stand pat on monetary policy.
The on-hold decision kept the yen pressured, allowing the Australian Dollar to stick to its intraday gains. The move reflected ongoing demand for the higher-yielding Aussie against the yen.
Source: FXStreet Forex News