FX Update: Bullish AUD/JPY

Recent developments around U.S. trade policy, monetary signals from Europe and Japan, and shifting macroeconomic fundamentals are reshaping global market dynamics. While the U.S. dollar faces immediate headwinds due to political volatility and fiscal concerns, selective opportunities in currency and rate markets – particularly involving the Australian dollar and Japanese government bonds are emerging. We outline key implications and tactical positioning strategies across FX and fixed income.