Forex
AUD/JPY Weakens as BoJ Rate Hike Bets Rise on Soaring Tokyo Inflation
The AUD/JPY cross weakened on Friday as Japan's Tokyo inflation gauge rose sharply in September, bolstering the case for further interest rate hikes from the Bank of Japan (BoJ).
Data released by the Statistics Bureau of Japan showed that the headline Tokyo Consumer Price Index (CPI) rose 2.7% in September, versus 1.9% prior.
Analysts at Rabobank highlighted that while some BoJ policymakers argued for further tightening, others warned against hasty action, citing weak private consumption.