The AUD/JPY has continued to consolidate within the 93.70–95.00 range over the past ten trading days, amid a fragile market mood driven by controversial US policies, the escalation and de-escalation of the Middle East conflict, and the approval of the US fiscal budget.
USD/JPY was a touch softer amid broad USD softness and UST yields drifting lower. Pair was last at 144.20 levels, OCBC's FX analysts Frances Cheung and Christopher Wong note.
The AUD/USD pair gains traction to near 0.6535 during the early Asian session on Monday. The renewed trade concerns due to the White House appear poised to fall short of the sweeping global trade reforms it promised to achieve, weighing on the Greenback.