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AUD/JPY slides toward 110.00 after RBA fails to signal more tightening
AUD/JPY is down about 0.45% on the day and sellers pushed spot to an over two-week low in early Europe.
FXStreet reports that the AUD/JPY cross drew fresh selling after a post-RBA move toward 110.70, with spot prices later falling to an over two-week low in early Europe on Tuesday.
The outlet said AUD/JPY is trading just below the 110.00 psychological level, down around 0.45% for the day, and remains near the monthly trough.
FXStreet attributed the pressure on the Australian dollar to the RBA Governor Michele Bullock, who in a post-meeting press conference did not reinforce expectations that inflation developments would likely require further tightening, leading traders to trim bets for additional rate hikes.
The story also points to warnings from Japan officials about taking joint US-Japan messaging on yen depreciation seriously, after US President Donald Trump conveyed concerns about JPY depreciation to Prime Mi.