AUD/JPY slumps 50 pips on the downbeat Australian employment report for July during early Thursday. Adding strength to the bearish bias are the fears
of the Japanese intervention to defend the Yen. The same joins sour sentiment to exert downside pressure on the risk-barometer pair, down 0.67% intraday near 93.35 by the press time.
On the other hand, Japan’s mixed prints of Merchandise Trade Balance for July and upbeat Machinery Orders for June justifies the latest push to the Japanese policymakers to defend the Yen, which in turn weighs on the AUD/JPY price.
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