AUD/JPY aims establishment above 96.00 ahead of RBA minutes, BOJ policy eyed – by Sagar_Dua24 AUDJPY BOJ RBA Inflation Oil
is expected to demolish the above-mentioned hurdle sooner and will resume its upside journey above 96.50. The asset is expected to display topsy-turvy moves ahead of the interest rate decision by the Bank of Japan , which will be announced on Thursday.
As BOJ is preparing for an intervention in the Fx moves to support the depreciating yen against the G-7 currencies, a shift in policy stance is highly expected by the market participants. BOJ’s Haruhikois not in a position to scale up the interest rates as the price rise index and Japan’s growth rate are not supporting the same. The economy has failed in accelerating price pressures despite a prolonged ultra-loose monetary policy.
On the Aussie front, investors focusing on the release of the minutes from the Reserve Bank of Australia of the September monetary policy meeting. This will provide a detailed version of the ideology of the RBA policymakers behind announcing a fourth consecutive 50 basis points interest rate hike. Also, it will provide the current economic situation and further prospects.
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