AUD/JPY

Fundamentals favour the Australian Dollar by 70 points.

On the Macro Currency Strength Meter, the Australian Dollar scores +51 and the Japanese Yen scores -19 — a gap of 70 points in favour of the Australian Dollar. The widest divergence is in interest rates, which favours the Australian Dollar. All else equal that gap is a fundamental tailwind for the Australian Dollar against the Japanese Yen — though markets may already have priced much of it in.