There are still three weeks to go until the next central bank meeting in Australia, but the market is already relatively certain.
EUR/JPY extends its winning streak for the seventh successive session, trading around 173.10 during the Asian hours on Friday. The currency cross appreciates as the Japanese Yen (JPY) faces challenges following the release of Tokyo Consumer Price Index (CPI) data.
US Dollar (USD) is likely to trade in a range of 145.95/146.95 against Japanese Yen (JPY). In the longer run, rapid increase in momentum indicates USD could weaken to 145.75, UOB Group’s FX analysts Quek Ser Leang and Peter Chia note.