AUD/JPY attempts to refreshes monthly highs near 82.00 post-RBA decision
- AUD/JPY prints some fresh gains on Tuesday following RBA's interest rate decision.
- AUD gains limited on increasing coronavirus cases, downbeat economic data despite RBA kept the key rate unchanged.
- Yen enjoys the optimism on the fresh stimulus package, fall in daily COVID-19 tally.
AUD/JPY edges higher on Tuesday in the early European session. The pair continued to move higher following the previous session’s upside momentum.
At the time of writing, AUD/JPY is trading at 81.92, up 0.30% for the day.
The Aussie gains after the Reserve Bank of Australia (RBA) kept its official cash rate (OCR) at a record low of 0.10% as widely anticipated at their September monetary policy meeting. The central bank further said there is no scenario of a rate hike before 2024 with a pause in tapering of the bond-buying program.
Furthermore, the downbeat economic data limited the gains for the Australian dollar. The Ai Group Service Index fell to 45.6 in August from 51.7 in July whereas building permits fell 8.6% to 17,601 in July.
It is worth noting that S&P 500 Futures were trading at 4,535.43, down 0.034% for the day.
On the other hand, the Japanese Yen locks in some gains on the optimism about strong economic recovery after Fumio Kishida, a strong contender of prime minister race called for a stimulus package of more than ¥ 30 trillion.
Investors turn their attention to Japan Coincident Index data and Leading Economic Index data to gauge the market sentiment.
AUD/JPY additional levels