AUD/JPY Weakens as Japan Ponders Joint Currency Intervention

The AUD/JPY currency pair weakened to near 112.50 in early European trading hours on Friday, as the Japanese Yen strengthened against the Australian Dollar.

This comes amid rumors of potential joint intervention from Japanese and US authorities to stabilize the yen's value.

According to Tokyo Tanshi data, markets currently see a 76% chance of the Bank of Japan (BoJ) raising interest rates in September, up from 24% on July 30.