AUD/JPY Jumps as Inflation Data Fuels Rate Hike Expectations
AUD/JPY price action has been strong on Thursday's early European session, reaching around 114.45.
This comes as hotter-than-expected Australian Consumer Price Index (CPI) inflation data bolstered market expectations for a Reserve Bank of Australia (RBA) interest rate hike.
The RBA now has a 38% chance of raising rates in September, up from 17% before, according to Reuters.