XE Market Analysis: Europe – Oct 25, 2017

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The Aussie dollar came under pressure following sub-forecast inflation data out of Australian, which pushed back on any nascent ideas that the RBA may have been headed for a rate hike. AUD-USD lost 0.7% in making a 0.7716 low, which is the lowest level seen since mid July. Australian Q3 CPI slowed to a 1.8% y/y rate, below 1.9% in Q2 and under the median forecast for an uptick to 2.0%. USD-JPY recovered after a sharp but brief dip to a 113.54 low during the New York PM session yesterday. Gains subsequently stalled around 114.0, where good selling interest has been reported.