The AUD/JPY cross gains positive traction for the third successive day and climbs to its highest level since May 1991, around the 109.35 area during the Asian session on Thursday.
AUD/JPY continues scaling higher for the third straight day and climbs to a fresh multi-decade high. The risk-on mood undermines the safe-haven JPY and lends support amid hawkish RBA expectations. Speculations that the BoJ may act soon in response to the weakening JPY and cap any further gains. The momentum is sponsored by a combination of factors, though speculations that the Bank of Japan may raise interest rates in response to a weakening Japanese Yen might cap any further gains.
Japanese Yen FAQs What key factors drive the Japanese Yen? The Japanese Yen is one of the world’s most traded currencies. Its value is broadly determined by the performance of the Japanese economy, but more specifically by the Bank of Japan’s policy, the differential between Japanese and US bond yields, or risk sentiment among traders, among other factors.
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