Mitsubishi UFJ Trust and Banking Corp. will buy Australia’s Link Administration Holdings in a deal valued at about AUD1.1bn.
Mitsubishi UFJ Trust and Banking Corporation is the trust banking arm of the Mitsubishi UFJ Financial Group, a Japanese financial services group that is the largest in the world measured by assets.
Link Administration Holdings Limited is a provider of outsourced administration services for superannuation fund administration, corporate markets and like businesses.
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While a deal of this size would be expected to have an impact on the AUD/JPY cross do note that by the time such deals become known publicly the forex part (in this case, on the face of it, a buy of AUD/JPY) has already been done/hedged.
And besides, AUD/JPY has been shunted around much more by speculation regarding the what and when of the upcoming (sometime in 2024 most likely) Bank of Japan pivot to a somewhat tighter policy stance:
1.1bn AUD/JPY is a sizeable chunk but its pales in comparison to fund flows on speculation over central bank shifts.