What does recent positioning changes in AUD/USD and USD/JPY suggest about future price action? This article also analyses Aussie CPI and recent BoJ statements
Forex Update: As of 14:00, these are your best and worst performers based on the London trading schedule: 🇯🇵JPY: -0.01% 🇪🇺EUR: -0....rose at an annual pace of 3.5% in July, down from 3.8% in June according to the Australian Bureau of Statistics. The data point was slightly above the 3.4% estimate and while it looks encouraging at face value, much of the drop was due to rebates for the price of electricity which artificially lowered the CPI measure.
BoJ Deputy Governor Ryozo Himino addressed business leaders in Kofu to reinforce Ueda’s earlier comments that the central bank will continue to raise interest rates if inflation stays on course. He also clarified that the bank would need to monitor financial markets with “utmost vigilance” after the volatile period experienced at the beginning of the month.
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