Australian Dollar Slides on Soft Inflation, Yen Gains on Intervention Fears
The Australian dollar fell to around 113.60 against the yen after softer inflation data and intervention fears bolstered the Japanese currency.
AUDJPY
The AUD/JPY pair lost 0.61% on Wednesday, sliding to around 113.60 as a weaker-than-expected Australian inflation report triggered broad selling of the Aussie dollar.
The inflation miss prompted traders to reassess the Reserve Bank's tightening outlook, dumping the currency across the board.
Additional pressure came from the yen's side: renewed verbal intervention threats by Japanese authorities lent support to the yen, compounding the pair's decline during the Asia-Pacific session.
Source: FXStreet Forex News