AUD/JPY appreciates due to the likelihood of RBA to avoid rate cuts

📆 4/8/2024 3:28 AM
📰 FXStreetNews

⏱ Reading Time:
23 sec. here
16 min. at publisher
📊 Quality Score:
News: 62%
Publisher: 72%

Finance News

AUD/JPY,RBA,Rate Cuts

Australia's 10-year bond yield surged to 4.1%, marking its highest level in over a month. The diminished geopolitical tension could weaken the safe-haven JPY. AUD/JPY continues to move in the positive direction, rising to near 99.90 during the European session on Monday. This rise is attributed to the appreciation of the Australian Dollar (AUD), supported by gains in the domestic equity market. The ASX 200 Index experienced upward momentum during the opening session of the week, particularly fueled by a surge in tech stocks. Additionally, Australia's 10-year government bond yield climbed to nearly 4.1%, reaching over one-month highs. This increase follows a rally in US bond yields, driven by stronger-than-expected US jobs data. Speculation has arisen that the Federal Reserve may maintain higher interest rates for an extended period

AUD/JPY appreciates due to the likelihood of RBA to avoid rate cuts . Australia's 10-year bond yield surged to 4.1%, marking its highest level in over a month. The diminished geopolitical tension could weaken the safe-haven JPY. AUD/JPY continues to move in the positive direction, rising to near 99.90 during the European session on Monday. This rise is attributed to the appreciation of the Australian Dollar , supported by gains in the domestic equity market .

Market participants are closely monitoring the prices of copper and oil, as further appreciation could potentially provide support for the Australian Dollar , consequently, underpinning the AUD/JPY cross. The Japanese Yen continues to face downward pressure as the Bank of Japan maintains a cautious stance towards further policy tightening. Additionally, reduced geopolitical tensions in the Middle East could dampen the appeal of the safe-haven JPY.

Source: News Formal (newsformal.com)

AUD/JPY RBA Rate Cuts Bond Yield Geopolitical Tension Safe-Haven Australian Dollar Equity Market ASX 200 Index Tech Stocks US Bond Yields US Jobs Data Federal Reserve Interest Rates

Write Comment

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

United States Latest News, United States Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

AUD/JPY faces some selling pressure near 99.00 following Japanese CPI dataThe AUD/JPY cross faces some selling pressure around the 99.00 mark during the early European session on Friday.
Source: FXStreetNews - 🏆 14. / 72 Read more »

AUD/JPY Price Analysis: Struggles at 100.00, retreats but uptrend stays intactThe AUD/JPY is virtually unchanged on Thursday in late trading during the North American session.
Source: FXStreetNews - 🏆 14. / 72 Read more »

AUD/JPY firms up on reduced expectations of RBA rate cuts, inches higher to near 99.90AUD/JPY continues to extend its gains that began on March 15, trading higher around 99.90 during the European session on Thursday.
Source: FXStreetNews - 🏆 14. / 72 Read more »

AUD/JPY Price Analysis: Bulls maintain positive momentum, overbought conditions hint at possible pullbackIn Wednesday's session, AUD/JPY is experiencing an uptake, trading at 99.62, its highest level since 2014, and showing a gain of 1.15%.
Source: FXStreetNews - 🏆 14. / 72 Read more »

AUD/JPY Price Analysis: Gains momentum below the 99.00 mark amid the overbought conditionThe AUD/JPY cross gains traction below the 99.00 psychological barrier during the early European trading hours on Wednesday.
Source: FXStreetNews - 🏆 14. / 72 Read more »

AUD/JPY struggles to lure buyers, remains below 98.00 mark after RBA/BoJ announcementsThe AUD/JPY cross continues with its struggle to find acceptance above the 98.00 mark and surrenders Asian session gains to over a one-week high.
Source: FXStreetNews - 🏆 14. / 72 Read more »