The Australian Dollar pares gains versus the Yen as labor market figures fail to support further upside momentum.
The AUD/JPY cross retreated to around 113.60 in Asian trading on Thursday, erasing more than half of the prior session’s 0.5% advance. The pullback followed the release of Australia’s latest labor market report, which did not provide sufficient support for the currency.
Earlier, the pair had climbed on broad USD weakness and improved risk sentiment. Consensus had anticipated a modest improvement in employment figures, but the actual data did not shift expectations for Reserve Bank of Australia policy.
Traders now await further cues from global risk trends and upcoming economic releases, with the pair remaining range-bound near current levels.