Bullish
AUD/JPY surges 1.10% to 113.96, nearing 114.00 amid strong carry trade demand.
Over the past 24 hours, AUD/JPY has risen 1.10% to 113.96, approaching the 114.00 threshold. This movement is driven by heightened demand for higher-yielding currencies, particularly the Australian dollar, as investors seek better returns amid a stable U.S. dollar environment.
Key points
- AUD/JPY climbs 1.10% to 113.96, nearing 114.00, driven by strong carry trade demand.
- USD/JPY consolidates below 160 as U.S. Treasury bond purchases cap dollar strength.
- ING analysts suggest yen is 20% undervalued against the dollar, with intervention seen as a turning point.
Sources
AI-generated from public news sources. Not financial advice.
