USD/JPY rallied to its highest since mid-February after the Bank of Japan delivered a neutral policy hold, keeping rates at 0.50%.
Australia’s consumer price index (CPI) climbed to 1.3% q/q in 3Q25, rising from the 0.7% q/q reading in 2Q25, and coming in stronger than consensus estimate of 1.1%. The latest reading marked the highest quarterly rise since Mar 2023.
The US Dollar (USD) sharply reversed its recent weakness as market participants assessed the widely anticipated rate reduction by the Federal Reserve, while hopes of a US-China trade deal continued to do the rounds in the background.