AUD/JPY Pars Losses After Hitting Monthly Lows As Israel Attacks Iran

AUD/JPY fell for a second consecutive day as risk aversion in financial markets increased. According to ABC News, Israeli missiles struck a site in Iran. Before that, the yen faced challenges following the release of Japanese inflation data on Friday. The latest data from the Statistics Bureau of Japan show that the national consumer price index (CPI) rose by 2.7% year-on-year in March, compared with 2.8% in February. The index assesses price fluctuations in goods and services purchased by households.

Hawkish comments from Bank of Japan (BOJ) Governor Kazuo Ueda on Thursday provided upside support for the Japanese yen (JPY). According to Reuters, Kazuo Ueda mentioned at a press conference that the central bank may consider raising interest rates again if the yen depreciates sharply and drives up inflation. This highlights the impact of currency movements on the timing of the next policy shift.

The Australian dollar (AUD) fell on Friday, with the ASX 200 Index falling. Elsewhere, Australia’s 10-year bond yield fell below 4.3%, retreating from a more than four-month high. The pullback was attributed to weak domestic employment data, which reinforced the dovish outlook for monetary policy from the Reserve Bank of Australia (RBA).

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