RBA Rate Cut Fears Weigh on AUD/JPY as It Trades around 97.00
AUD/JPY struggles in the market for the second consecutive session, hovering around the 97.00 mark during European trading hours on Wednesday. The Australian Dollar (AUD) faces significant pressure due to increasing speculation that the Reserve Bank of Australia (RBA) may lower interest rates sooner than economists initially predicted. This shift in expectations causes the AUD/JPY cross to extend its recent losses, creating a cautious outlook for traders. Without a change in the current market sentiment, the pair may continue to struggle as investors seek clarity on future monetary policies from the RBA. Keeping an eye on upcoming economic indicators will be crucial for forecasting AUD/JPY’s trajectory.
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