The AUD/JPY cross extends its upward trajectory as the Reserve Bank of Australia (RBA) hints at the possibility of further rate hikes. RBA Governor Michelle Bullock anticipates that inflation will not return to its target until 2026. However, the decline in the S&P/ASX 200 Index may have limited the advance of the AUD/JPY cross.
AUD/JPY continues to move in a positive direction as RBA hinted at increasing policy rates. RBA Governor Michelle Bullock anticipates that inflation will not return to its target until 2026. Japanese Yen faces challengeson reduced expectations for an early interest rate hike by BoJ. AUD/JPY extends its upward trajectory for the third consecutive session, reaching around 97.90 during European trading hours on Thursday.
The AUD/JPY cross receives upward momentum as the Reserve Bank of Australia (RBA) continues to hint at the possibility of further rate hikes. RBA Governor Michelle Bullock recently emphasized that inflation in Australia is primarily homegrown and demand-driven, fueled by the robust labor market and increasing wage inflation. The RBA does not foresee inflation returning to its target until 2026. However, the decline in the S&P/ASX 200 Index, driven by losses in financial-linked shares despite gains in iron ore miners, may have exerted downward pressure on the Australian Dollar. Consequently, this has limited the advance of the AUD/JPY cros
AUD/JPY RBA Rate Hike Inflation Japanese Yen S&P/ASX 200 Index
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