AUD/JPY Weakens as Yen Gains Momentum Amid Rate Hike Expectations

The Australian Dollar (AUD) has continued to weaken against the Japanese Yen (JPY), driven by ongoing support for the JPY due to stronger policy signals from Japanese authorities and heightened expectations of a Bank of Japan rate hike.

This support has led to persistent bearish momentum, with the AUD/JPY trading below all major moving averages.

Recent Chinese economic data triggered higher volatility in the pair, partially reducing losses during the session. However, this did little to stem the decline as the AUD/JPY remains under pressure.