The cross falls to 112.90 after Japan’s Q1 GDP growth exceeds expectations, bolstering the yen against the Australian dollar.
The AUD/JPY cross retreated to around 112.90 in early European trading on Wednesday, extending losses below the 113.00 mark. The decline follows Japan’s stronger-than-expected first-quarter GDP growth, which reinforced the yen’s appeal against the Australian dollar.
Japan’s GDP expanded at a faster pace than anticipated in Q1, providing fundamental support for the JPY. The cross had previously shown resilience, but the data shift weighed on sentiment. Market participants are now assessing the potential for further yen strength amid the improved economic outlook.
No immediate market reaction was specified, but the move reflects broader adjustments in forex pairs tied to Japan’s economic performance.