AUD/JPY trims some of its daily losses and trades lower around 97.50 during the European hours on Friday.
AUD/JPY faces headwinds on market anticipation of a shift in the BoJ's policy stance. Reuters cited news agency Jijithat the BoJ plansto end its negative interest rate policy. RBA maintains its potential stance for further rate hikes ahead of the policy decision on Tuesday.
Australian equities mirror losses seen on Wall Street, with significant declines observed in banking and iron ore mining sectors. Despite these challenges, the AUD/JPY cross may find support as the Reserve Bank of Australia maintains its potential stance for further rate hikes. Analysts, according to a Reuters poll conducted before the RBA meeting, anticipate the central bank to keep its official cash rate unchanged at 4.
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