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Australian dollar and yen at a level not seen since the 80s
Japanese tourism destinations including Kyoto are growing increasingly popular. (AFP: Sebastien Lapeyrere/Hans Lucas)
The Australian dollar reached a 40-year high against the yen on Monday, making Japan even cheaper for tourists to visit, analysts said.
A record number of Australians visited Japan in 2025, exceeding one million for the first time, according to Japan's tourism agency.
Analysts expect the Australian dollar to remain strong against the yen, but say currency movements can be volatile.
Australians visiting Japan are seeing their trips get even cheaper as the Australian dollar hits a four-decade high against the Japanese yen, foreign exchange analysts say.
investingLive Asia-Pacific FX news wrap: JPY and AUD both climb
It was a Japanese market holiday today, with cash equities and bond trading closed. The yen nevertheless strengthened in regional trade, with USD/JPY dipping below 153.40 in Asian centres. There was no obvious fresh catalyst. Market commentary cited fading concerns about a fiscal crunch in Japan and ongoing divergence between Bank of Japan tightening and Federal Reserve easing.
I’m not entirely convinced by that narrative. On Tuesday (US time), Federal Reserve regional presidents Beth Hammack and Lorie Logan struck steady-to-hawkish tones rather than dovish ones, suggesting the Fed is in no hurry to ease further.
From China, January inflation data showed CPI rising less than expected while producer price deflation persisted. Prior to the release, the People’s Bank of China set the USD/CNY reference rate at its strongest level for the yuan since 11 May 2023. The yuan softened modestly after the data but has since recovered some ground, reinforcing the broader theme of managed stability rather than disorderly weakness.
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