Australian Dollar Slides to One-Week Low Against Yen on Soft CPI
The Australian dollar fell to its lowest level in a week against the Japanese yen as softer-than-expected consumer price inflation data triggered heavy selling pressure on the AUD/JPY cross.
AUDJPY
The AUD/JPY pair dropped to a one-week low during the session, extending its pullback from the 114.65 zone — the highest level since June 3.
Soft Australian consumer price index data sparked the sell-off, as traders reassessed the Reserve Bank of Australia’s rate path. The cross faced follow-through selling for a second consecutive day.
The move underscores growing bearish momentum for the Aussie against the yen, with the pair surrendering recent gains.
Source: FXStreet Forex News