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Australian dollar slips versus yen after RBA keeps rates unchanged

The RBA left its Official Cash Rate at 4.35% for a second straight meeting, while weaker Japan current account data lifted the yen.

Reported · Written up by our desk · Major Pairs

The Australian dollar fell against the Japanese yen during Tuesday’s Asian session, trading about 0.15% lower around 112.20, as FXStreet reported renewed selling pressure for the AUD versus major peers.

The move followed the Reserve Bank of Australia’s decision to keep its Official Cash Rate unchanged at 4.35% for the second meeting in a row, with markets having already priced in the status quo after Australian inflation came in lower than projected in the second quarter.

Investors also looked ahead to remarks from RBA Governor Michele Bullock, with a press conference scheduled for 05:30 GMT.

At the same time, the yen firmed on concerns tied to Japan’s current account data for June, which slipped into a deficit of JPY 92.3 billion versus an expected surplus of JPY 1,512 billion, after a May surplus of JPY 3,968.3 billion, according to Japan’s Ministry of Finance.

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