The AUD/JPY cross attracts some buyers for the second successive day on Monday, albeit struggles to capitalize on the modest intraday uptick beyond the 98.00 round-figure mark.
AUD/JPY climbs to over one-week top on Monday, though the upside remains capped. The BoJ policy uncertainty keeps the JPY bulls on the defensive and lends some support. Traders seem reluctant to place aggressive bets ahead of the BoJ and RBA on Tuesday. Traders opt to wait on the sidelines ahead of the key central bank event risks on Tuesday, warranting some caution before positioning for an extension of last week's bounce from sub-97.00 levels, or over a one-month low.
The Australian Dollar , on the other hand, remains supported by signs of improving relations between Australia and China – the former's biggest trading partner. Adding to this, the upbeat Chinese macro data, showing that Retail Sales and Industrial Production rose more than expected in February, turns out to be another factor that benefits antipodean currencies, including the Aussie.
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