How does the AUD/JPY exchange rate affect the value of digital currencies?

1 answers

• Nov 27, 2021 · 3 years ago
  At BYDFi, we believe that the AUD/JPY exchange rate can have a direct impact on the value of digital currencies. As the exchange rate between the Australian dollar and the Japanese yen fluctuates, it can affect the buying power of investors in both countries. When the AUD/JPY exchange rate is favorable for Australian investors, it may lead to increased demand for digital currencies, which can drive up their value. Conversely, if the exchange rate is unfavorable, it may reduce the buying power of Australian investors and potentially decrease the demand for digital currencies. Therefore, it is important for investors to consider the AUD/JPY exchange rate when making investment decisions in the digital currency market.
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