AUD/JPY attracts some sellers below 97.40, RBA, BoJ rate decision are in the spotlight – Crypto News – Crypto News
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AUD/JPY renews weekly top around 95.00 on China stimulus, cautious optimism ahead of Jackson Hole AUD/JPY renews weekly top around 95.00 on China stimulus, cautious optimism ahead of Jackson Hole

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AUD/JPY attracts some sellers below 97.40, RBA, BoJ rate decision are in the spotlight – Crypto News

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  • AUD/JPY edges lower to 97.35 in Friday’s Asian session. 
  • Australian central bank is expected to maintain its key interest rate and policy stance in its March meeting. 
  • The financial market opinion is split on whether the BoJ will raise the rates in March or April.

The AUD/JPY cross trades on a weaker note below the mid-97.00s during the Asian trading hours on Friday. Investors will closely monitor the Reserve Bank of Australia (RBA) and the Bank of Japan (BoJ) interest rate decisions next week. These events might cause volatility in the market. At the press time, AUD/JPY is trading at 97.35, losing 0.27% on the day. 

The RBA is anticipated to hold its key interest rate at 4.35% for a third consecutive meeting next week. Investors have priced in the first rate cuts in its June meeting. The RBA is likely to maintain its hawkish stance as inflation remains elevated. However, any hawkish warning from the Australian central bank might weigh on the Australian Dollar (AUD) against the Japanese Yen (JPY). 

On the other hand, the financial market is split on whether the BoJ will raise rates in March or April. Investors believe that an April hike is slightly more likely than a March hike, but the possibility of a March hike cannot be ruled out since the large companies in Japan have offered their employees the highest wage increase in over three decades. The lower bets that the BoJ will end negative rates soon might drag the JPY lower and act as a tailwind for the AUD/JPY cross. 

 

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