AUD/JPY holds gains near 97.00 despite increased safe-haven demand

  • AUD/JPY extends its winning streak for the third successive session, trading around 96.80 during the European hours on Monday. The currency cross appreciates as the Australian Dollar (AUD) gains ground amid rising odds of the Reserve Bank of Australia (RBA) maintaining the interest rates in August to get inflation on track to sustainably return to the 2-1/2% target.