AUD/JPY: the macro gap
On the Macro Currency Strength Meter, the Australian Dollar scores +20 and the Japanese Yen scores +25 — a gap of 5 points in favour of the Japanese Yen. The widest divergence is in growth, which favours the Japanese Yen. With both currencies scoring similarly, the fundamental case here is broadly balanced.
Strength gap
-5.0
Stronger side
JPY
Edge is
Narrowing
Scores
+20 vs +25
Factor by factor
Positive is stronger relative to the other majors, not in absolute terms. The gap column is AUD minus JPY.
| Factor | AUD | JPY | Gap |
|---|---|---|---|
| Interest Rates | +65 | +51 | +13.8 |
| Growth | -37 | +36 | -72.9 |
| Positioning | +23 | +16 | +6.2 |
| Risk Mood | +32 | -32 | +63.0 |
| Commodities | -10 | — | -9.9 |
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