AUD/JPY gains ground as RBA is expected to maintain higher rates for an extended period. The fear of Japan’s intervention could limit the advance of the pair. Australian Retail Sales declined 0.4% in Q1, swinging from the previous quarter’s 0.4% growth. However, the fear of intervention from the Japanese authorities is expected to cap the AUD/JPY cross's upward movement. Japan's 10-year government bond yield has surged to around 0.
The Australian Dollar may encounter challenges due to the Reserve Bank of Australia 's less hawkish stance, particularly following the Monthly Consumer Price Index for March, which surged to 3.5%, surpassing the expected reading of 3.4%. The RBA acknowledged a recent halt in progress towardcontrolling inflation, maintaining a stance of keeping options open. RBA Governor Michele Bullock emphasized the importance of remaining vigilant regarding inflation risks.
Finance Finance Latest News, Finance Finance Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Source: FXStreetNews - 🏆 14. / 72 Read more »
Source: FXStreetNews - 🏆 14. / 72 Read more »
Source: DailyFX - 🏆 305. / 63 Read more »