Home›Forex›Major Pairs›AUD/JPY rebounds above 110.50 after four-day losing st…

AUD/JPY rebounds above 110.50 after four-day losing streak

The cross was trading near 110.85, as traders looked ahead to an RBA decision expected to lift the Official Cash Rate to 4.60%.

Reported · Written up by our desk · Major Pairs

FXStreet reported the AUD/JPY cross recovered into positive territory near 110.85 on Monday, snapping a four-day losing streak in early European trading.

The outlet linked the rebound to expectations that Australia’s “sticky” inflation will keep the Reserve Bank of Australia on a hawkish path, with an RBA rate hike anticipated from 4.35% to 4.60% at the conclusion of its meeting on Tuesday.

Attention is also set to turn to Australia’s August CPI inflation data on Wednesday, with the headline CPI expected to rise 4.1%, which could influence near-term moves in the Aussie against the Japanese yen.

FXStreet added that traders are watching for possible currency intervention from Japanese authorities, which could limit upside for the pair.

More like this

Sources