Bullish
AUD/JPY rises to two-month high amid USD weakness and soft US data
Over the past 24 hours, the Australian Dollar (AUD) has strengthened against the Japanese Yen (JPY), reaching a two-month high. This movement is primarily driven by a broadly weaker US Dollar (USD) and recent soft US economic data, which have dampened expectations of a Federal Reserve rate hike in September. Additionally, despite weaker-than-expected Chinese economic indicators, the AUD remains resilient, supported by the USD's decline.
Key points
- AUD/USD extends recovery, reaching fresh 10-week highs near 0.7100, driven by USD weakness.
- Despite weaker Chinese economic data, AUD remains resilient, supported by USD's decline.
- USD/JPY rebounds after earlier selling pressure, as JPY struggles despite rising domestic bond yields.
Sources
AI-generated from public news sources. Not financial advice.
