Bearish
AUD/JPY falls below 110.00 as RBA rate hike expectations decline
In the past 24 hours, AUD/JPY has declined below the 110.00 mark, influenced by reduced expectations for a Reserve Bank of Australia (RBA) rate hike in November. This shift follows the latest Consumer Price Index (CPI) data, which met forecasts and led markets to price in only a 20% chance of an RBA rate increase.
Key points
- AUD/JPY trades near 109.70, under pressure due to softened Australian Dollar.
- Market anticipates a 20% chance of RBA rate hike in November, down from previous expectations.
- Technical indicators show AUD/JPY below key moving averages, with RSI at 34.97.
Sources
AI-generated from public news sources. Not financial advice.
