AUD/JPY rallies to fresh record high, above mid-113.00s on RBA rate hike bets and weak JPY
The AUD/JPY cross gains strong positive traction for the fourth consecutive day and climbs to its highest level since 1990 during the Asian session on Wednesday. Spot prices currently trade around mid-113.00s, up 0.90% for the day, and seem poised to prolong the recent well-established uptrend.
  • AUD/JPY attracts strong buying for the fourth straight day amid a combination of supporting factors.
  • Bets for an imminent RBA rate hike next week continue to boost the Aussie and fuel the momentum.
  • Concerns that surging Oil prices could weaken Japan’s economy and lift inflation weigh on the JPY.

The AUD/JPY cross gains strong positive traction for the fourth consecutive day and climbs to its highest level since 1990 during the Asian session on Wednesday. Spot prices currently trade around mid-113.00s, up 0.90% for the day, and seem poised to prolong the recent well-established uptrend.

The Australian Dollar (AUD) continues to outperform on the back of increasing confidence that the Reserve Bank of Australia (RBA) will raise interest rates as soon as next week. In fact, RBA Deputy Governor Andrew Hauser said on Tuesday that there will be a genuine debate on whether or not to raise interest rates when the central bank meets next week amid concerns about a potential war-driven surge in inflation. This has been a key factor behind the AUD/JPY pair's recent upsurge.

The Japanese Yen (JPY), on the other hand, is weighed down by diminishing odds for an immediate interest rate hike by the Bank of Japan (BoJ) amid worries that surging Oil prices could weaken economic growth. Given that Japan is one of the world’s largest energy importers, rising energy prices could drive up inflation and create a stagflationary environment, complicating the BoJ's normalization efforts. This undermines the JPY and supports the AUD/JPY cross.

However, speculations that Japanese authorities would step in to stem further weakness in the domestic currency might hold back bulls from positioning for any further appreciating move. Nevertheless, the supportive fundamental backdrop suggests that any corrective pullback might be seen as a buying opportunity and remain limited. The market focus now shifts to the crucial RBA policy meeting next Tuesday, which should provide a fresh impetus to the AUD/JPY cross.

(This story was corrected on March 11 at 08:18 GMT to say that AUD/JPY rallied to its highest level since 1990, not all-time peak.)

Australian Dollar Price This week

The table below shows the percentage change of Australian Dollar (AUD) against listed major currencies this week. Australian Dollar was the strongest against the Japanese Yen.

USD EUR GBP JPY CAD AUD NZD CHF
USD -0.71% -0.82% 0.03% -0.31% -2.61% -1.31% -0.30%
EUR 0.71% -0.13% 0.75% 0.39% -1.94% -0.62% 0.40%
GBP 0.82% 0.13% 0.89% 0.52% -1.81% -0.49% 0.52%
JPY -0.03% -0.75% -0.89% -0.31% -2.62% -1.31% -0.31%
CAD 0.31% -0.39% -0.52% 0.31% -2.33% -1.01% -0.00%
AUD 2.61% 1.94% 1.81% 2.62% 2.33% 1.34% 2.37%
NZD 1.31% 0.62% 0.49% 1.31% 1.01% -1.34% 1.02%
CHF 0.30% -0.40% -0.52% 0.31% 0.00% -2.37% -1.02%

The heat map shows percentage changes of major currencies against each other. The base currency is picked from the left column, while the quote currency is picked from the top row. For example, if you pick the Australian Dollar from the left column and move along the horizontal line to the US Dollar, the percentage change displayed in the box will represent AUD (base)/USD (quote).

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실시간 시세

이름 / 기호
차트
% 변동 / 가격
GBPUSD
1일 변동
+0%
0
EURUSD
1일 변동
+0%
0
USDJPY
1일 변동
+0%
0

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