AUD/JPY retreats and falls below 92.00

FXStreet (Córdoba) - AUD/JPY failed to hold above 92.00 and pulled back, falling to 91.28 during the European session. The pair bounced off daily lows after the People’s Bank of China cut its reserve requirement ratio by 50bps to 19.5%, but remains below 92.00. Currently trades at 91.65/70, around the same level it closed yesterday.

During today’s Asian session the pair peaked at 92.35, reaching the strongest level since last Thursday and more than 300 pips above Tuesday’s lows, when it plunged to 89.30/35 (lowest since February 04, 2014) after the Reserve Bank of Australia cut the main interest rate.

Currently is hovering around 91.60/70, where it was trading before the RBA cut. The aussie has been able to erase all RBA losses but continues to trade near 1-year lows.