AUD/JPY weakens as JPY strengthens on potential intervention
The AUD/JPY cross is trading lower around 112.55.
The Japanese Yen is strengthening against the Australian Dollar as traders await potential currency intervention from Japanese authorities.
A former top currency diplomat noted that Tokyo may conduct joint intervention with the US, which could lead to faster interest rate hikes. Markets see a 76% chance of a Bank of Japan rate hike in September.