Home›Forex›Major Pairs›AUD/JPY rises after upbeat Australian employment data

AUD/JPY rises after upbeat Australian employment data

Australia’s unemployment rate held at 4.4% in June while employment change jumped to 76.3K, supporting the Australian dollar.

Reported · Written up by our desk · Major Pairs

AUD/JPY strengthened after recovering from earlier losses, trading around 114.30 during Thursday’s Asian session, with support tied to improved Australian labor-market data, according to FXStreet.

The Australian Bureau of Statistics reported that the unemployment rate stayed at 4.4% in June, matching market consensus, while employment change rose to 76.3K from 44K in May, which was revised from 40.3K.

Despite the AUD support, the pair faced downward pressure as the Japanese yen firmed, helped by rising energy prices that are seen as adding to inflation in Japan.

Investors are also looking ahead to Friday’s release of Japan’s June consumer inflation data for clues on the policy path, while FXStreet noted that Bank of Japan officials have signaled openness to faster tightening and that Japan’s finance minister warned authorities are prepared to act against excessive yen weakness.

More like this

Sources