The Australian dollar against the Japanese Yen exchange rate (AUDJPY) changes every second. This article shares bank forecasts to help you predict changes in the AUDJPY rate.
2021 AUD to JPY: investors more optimistic
In 2021, two of the major Australian banks raised their AUD to JPY forecasts by 5-10%. They predict the AUDJPY to remain higher than 80.00 Yen per Australian dollar. A rising AUDJPY suggests investors are more optimistic about the state of the global economy.
AUDJPY Bank expert rate forecasts 2021
Source: Australian Big 4 banks aggregate data
How will the AUDJPY perform in 2021?
Why is the AUDJPY rising?
There are many reasons why the Aussie dollar has been getting stronger relative to the Japanese Yen.
These are the most likely:
- Vaccine rollout reduces coronavirus globally despite new strains
- Australian economy bounces back supporting the Aussie Dollar
- A weaker US dollar as the US economy struggles
- China’s demand for Australian commodities grow
- Economic growth on a global scale recovers
3 Things to know about the AUD/JPY
- AUD/JPY tells you how many Japanese Yen are needed to purchase one Australian dollar.
- The AUD/JPY is interesting because it can show how worried or happy investors are about the state of the global economy. If the AUD/JPY cross rate falls, investors are worried, if it rises investors are optimistic.
- The AUD/JPY can fluctuate quickly. That’s why money exchange services offer rate alerts to help you get the best exchange rate.
AUD bank forecast major crosses for 2021
Buying Japanese Yen in Australia
If you like the reassurance of having the local currency readily available from the moment you step off the plane, you have three options to pick up the cash before you go:
- Cheapest - Buy the currency online and either collect it in-store or have it delivered to you
- Mid Range - Buy from a currency exchange store
- Most Expensive - Buy the currency at the airport
Travelex also offer a foreign exchange service online but it takes between two and five business days before the currency is ready for pick-up or delivery so you need to be organised!
Buying your currency in-store can be a good option but it all depends on where you go. The money changers in the centre of the main cities tend to be more competitive than smaller stores in the suburbs.
Only change money at the airport as a last resort. The exchange rates and fees at Australian airports are among the worst in the world so avoid it at all costs if you want to get the best bang for your buck.
Latest Australian Dollar news
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The Australian dollar against the US dollar exchange rate (AUDUSD) changes every second. This article shares bank forecasts to help you predict changes in the AUDUSD rate.
Australian dollar exchange rates and forecasts change all the time. This article looks at bank predictions and is updated regularly.