The $A has been appreciating against the Yen since April and we see no reason to the fight the trend especially with Japan’s dependency on oil and the interest rate differential with Australia driving the cross rate higher. Japan might be in a rate hiking cycle like Australia but the BOJ looks likely to walk a more cautious path than the RBA.
- Short term the $A-Yen may consolidate in the 110-112 area but the trend is up until further notice.
MM is bullish towards the $A-Yen around 110
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The Australian Dollar ($A) v Japanese Yen (JPY)
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The Australian Dollar ($A) v Japanese Yen (JPY)
