AUD/JPY recovered small daily losses, trading around 98.40 during the Asian session on Wednesday. The Australian Dollar (AUD) faced challenges against its peers following the release of monthly inflation data. Australia's trimmed mean inflation fell to 3.2%, nearing the RBA's target band. However, the monthly CPI rose 2.3% YoY, the highest since August. Meanwhile, the Japanese Yen (JPY) strengthened on potential intervention concerns, while uncertainty surrounding the BoJ's next rate hike limited gains. Former BoJ Governor Kuroda forecast further rate hikes in coming years.
AUD/JPY faced challenges as Australia’s trimmed mean fell to RBA’s target band of 2% to 3%. Australia's monthly Consumer Price Index increased by 2.3% YoY in November, the highest level recorded since August. Former BoJ Governor Haruhiko Kuroda forecasted additional interest rate hikes in the years ahead. AUD/JPY recovers its small daily losses, trading around 98.40 during the Asian session on Wednesday.
Core inflation excludes more volatile elements such as food and fuel which can fluctuate because of geopolitical and seasonal factors. Core inflation is the figure economists focus on and is the level targeted by central banks, which are mandated to keep inflation at a manageable level, usually around 2%. What is the Consumer Price Index ? The Consumer Price Index measures the change in prices of a basket of goods and services over a period of time.
AUD/JPY Australian Dollar Inflation Reserve Bank Of Australia Bank Of Japan
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