AUD/JPY Edges Higher Amid Weak JPY and Pending Aussie Jobs Data

The AUD/JPY currency pair is trading higher near 113.00 as the Japanese Yen softens against the Australian Dollar in early European session on Monday.

The weakness of the JPY comes after Japan's GDP data for the second quarter came in below market consensus, expanding at an annualized 1.1% compared to a 2.0% forecast and 1.8% growth in Q1.

Capital Economics analysts noted that while the details were mixed, government consumption jumped, suggesting Takaichi's expansionary fiscal policies are starting to take effect.

Traders await Thursday's release of Australia's July employment report, with expectations of a 4.5% unemployment rate, which could lift the Aussie against the JPY if stronger-than-expected.