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6 Feb 2015
AUD/JPY travels to the upside on RBA statement
FXStreet (Guatemala) - AUD/JPY is currently trading at 91.99 with a high of 92.28 and a low of 91.57.
AUD/JPY has moved to the upside over 60 pips on the release of the RBA's statement which told markets that the Aussie is still overvalued but didn't come much in the way of forward guidance in respect to whether here will be further rate cuts this year.
The market had been prepared for a dovish statement, but instead found that although growth and inflation prospects were lowered, there are little signs that the bank intend to cut rates at the next meeting as well. The Aussie is bid in a relief rally and the cross is starting to consolidate the spike some 30-20 pips lower at current levels.
AUD/JPY has moved to the upside over 60 pips on the release of the RBA's statement which told markets that the Aussie is still overvalued but didn't come much in the way of forward guidance in respect to whether here will be further rate cuts this year.
The market had been prepared for a dovish statement, but instead found that although growth and inflation prospects were lowered, there are little signs that the bank intend to cut rates at the next meeting as well. The Aussie is bid in a relief rally and the cross is starting to consolidate the spike some 30-20 pips lower at current levels.