EUR/JPY inches lower after registering modest gains in the previous day, trading around 175.90 during Asian hours on Thursday. Based on the technical analysis of the daily chart's descending channel pattern, the currency cross maintains a clear bearish bias.
The Australian Dollar remains firm against the US Dollar after the Federal Reserve held rates steady, despite US inflation staying well above its 2% target. The decision was not unanimous: two members dissented in favour of a quarter-percentage-point rate hike. The AUD/USD trades at 0.7056.
Standard Chartered’s Nicholas Chia expects the Reserve Bank of Australia to raise its cash rate to 4.85% in Q4, likely on 3 November, after stronger-than-projected Q3 underlying inflation. The bank sees the first rate cut in Q3 2027, with risks of further tightening or delayed easing.