AUD/JPY continues its winning streak for the third consecutive session on Tuesday, trading around 104.50 during the European session.
AUD/JPY appreciated after Japan 's Weighted Median Inflation Index showed a slowdown on Tuesday. Japan ’s Corporate Service Price Index posted a reading of 2.8% YoY in April, marking its fastest increase since March 2015. Australia ’s Retail Sales grew 0.1% in April, against the expected 0.2% and the previous decline of 0.4%. The appreciation of the AUD/JPY cross is attributed to the softer Japan ese Yen following the Bank of Japan publishing the latest data earlier in the day.
Suzuki stated that he is closely monitoring foreign exchange movements but refrained from commenting on whether Japan has conducted currency intervention. Across the pond, the Australian Dollar continues to strengthen despite softer Australia's Retail Sales , which rose by 0.1% in April, swinging from the previous 0.4% decline and falling short of market expectations of 0.2%.
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