The Reserve Bank of Australia is up this week! Markets are pricing in a “neutral” event that could pave the way for a “buy the rumors, sell the news” scenario for the AUD. But what if the AUD extends its downtrend instead? In case you missed last week’s FX recap, you should know that the Japanese Yen had a great week following a surprise interest rate hike by the Bank of Japan (BOJ) and a few rounds of risk aversion in the markets. On the other hand, the AUD saw heavy losses amid concerns over China growth and cooler-than-expected core inflation measures in Australia that dampened expectations of a rate hike by the Reserve Bank of Australia (RBA).
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