AUD/JPY extends its winning streak to four days, trading at 111.30 after domestic CPI data triggers renewed RBA rate hike expectations against the Japanese Yen.
The AUD/JPY pair is experiencing a sustained upward trend, marking four consecutive days of gains as it trades near 111.30. This momentum is primarily driven by the latest Australian Consumer Price Index (CPI) data, which has bolstered the Australian Dollar by fueling market expectations for potential Reserve Bank of Australia (RBA) interest rate hikes.
The pair is in an uptrend, having recorded gains for four consecutive days and trading around 111.30.
The primary driver is the recent Australian CPI report, which has increased expectations for RBA rate hikes.
The AUD/JPY currency pair climbed for the fourth consecutive session, reaching the 111.30 level during Wednesday's Asian trading. Stronger-than-expected Australian Consumer Price Index data bolstered the Australian Dollar, as markets priced in a more hawkish stance from the Reserve Bank of Australia.
The pair is rising because the latest Australian CPI report exceeded expectations, leading investors to anticipate potential interest rate hikes from the Reserve Bank of Australia.