AUD JPY Gains Momentum Following Positive PMI Data Release
The AUD JPY currency pair has shown strength, trading around 98.50 during the European hours on Monday. This marks the third consecutive day of gains for AUD JPY. This upward trend is attributed to the improved performance of the Australian Dollar (AUD) following the release of the Judo Bank Australia Purchasing Managers’ Index (PMI) and the Caixin Services PMI for China. Strong PMI results typically reflect expansion in the manufacturing and service sectors, providing a boost to currency value. As traders assess these data points, the AUD JPY movement highlights the interconnected nature of global economies. Investors will be keen to see if this momentum can be sustained in the coming days.
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