The AUD/JPY cross trades in negative territory for the third consecutive day around 97.90 during the Asian trading hours on Thursday.
AUD/JPY loses traction near 97.90 in Wednesday’s Asian session. The upbeat Australian PMI data failed to boost the Aussie. The BoJ is expected to raise rates again by the end of the year. The recent encouraging Australian Purchasing Managers Index fails to boost the Aussie. Investors will closely monitor Bank of Japan's Governor Kazuo Ueda's speech on Friday for fresh impetus.
How do the decisions of the Reserve Bank of Australia impact the Australian Dollar? The Reserve Bank of Australia influences the Australian Dollar by setting the level of interest rates that Australian banks can lend to each other. This influences the level of interest rates in the economy as a whole. The main goal of the RBA is to maintain a stable inflation rate of 2-3% by adjusting interest rates up or down.
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