AUD/JPY Plummets on Yen Surge Ahead of BoJ Decision

The AUD/JPY currency pair took a hit on Thursday as the Japanese Yen surged across yen crosses, prompting speculation of official intervention ahead of the Bank of Japan's upcoming decision.

The cross fell to around 111.70, down about 1.75% on the session and marking its lowest level since July 3rd.

The drop was also seen in USD/JPY, which fell nearly 480 pips to below 160 after reaching a 40-year high earlier this month.

Despite officials warning they stand ready to respond to excessive currency moves, Reuters reported that authorities were considering intervening without warning.