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AUD/JPY refreshes weekly top after Chinese inflation, eyes 97.00 amid positive risk tone

From fxstreet.com

The AUD/JPY cross attracts some buying for the third successive day and rallies to a fresh weekly top, around the 96.85 region during the Asian session on Thursday. Spot prices, however, remain well within a multi-day-old trading range, warranting some caution before positioning for an extension of the recent recovery from mid-95.00s, or the monthly trough touched last week. The Australian Dollar (AUD) continues to be underpinned by the Reserve Bank of Australia's (RBA) hawkish outlook earlier this week, warning that a further rate increase could not be ruled out in the wake of still sticky inflation. Adding to this, ... (full story)

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  • Category: Fundamental Analysis