AUD Sinks Against JPY as BoJ Hike Bets Grow Amidst Rising Inflation

The Australian Dollar (AUD) has declined against the Japanese Yen (JPY), despite China's inflation data meeting or exceeding expectations.

China's National Bureau of Statistics reported a Consumer Price Index (CPI) rise of 0.8% YoY in August, matching market expectations and accelerating from a 0.5% increase in July.

The Producer Price Index (PPI) also strengthened, increasing 3.8% YoY in August, exceeding market expectations of 3.7%.

However, the AUD/JPY exchange rate declined 0.27% on Wednesday and traded around 110.80 at the time of writing.