RBA Hike Expectations Rise as AUD/JPY Approaches 115

Three of Australia's Big Four banks now forecast another RBA rate hike this year following hawkish RBA minutes, stronger-than-expected CPI, and resilient household spending data released this week. The shift in rate expectations has driven AUD/JPY toward the 115 level, with the Australian dollar supported by tightening odds while the yen lacks fresh catalysts despite BoJ hawkishness.