The AUD/JPY pair faced a sell-off after the release of the mixed Australian labor market data. The risk-barometer drops to near 94.50 and is expected
AUD/JPY drops as the Australian Dollar faces pressure due to weak labor demand. Investors await the PBOC policy, which will be announced on Friday. The expectations of BoJ’s intervention in the FX domain ease. to remain on the tenterhooks ahead of the interest rate decision by the People’s Bank of China , which will be announced on Friday. The PBoC is expected to maintain a dovish policy due to persistent deflation risks in China.
The hopes of an intervention from the Japanese authority into the FX domain are diminishing. Japanese authorities are worried about further sell-off in the Japanese Yen and are holding volatile moves responsible for them. Historically, volatility spikes remain for days for a few weeks but the appeal for the Japanese Yen is weak from some quarters due to the adaptation of easy monetary policy by the BoJ.
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