AUD/JPY jumps to multi-week top after Australian CPI, remains below 96.00 mark

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• AUD/JPY gains strong positive traction on Wednesday and rallies to over a three-week high.
• The Australian CPI lifts bets for a 25 bps RBA rate hike in November and boosts the AUD.
• A positive risk tone undermines the safe-haven JPY and contributes to the strong move up.

The AUD/JPY cross catches aggressive bids during the Asian session on Wednesday and spikes to the 95.90 region, or over a three-week high following the release of Australian consumer inflation figures.