AUD Tumbles to 2-Month Low Amid Suspected Yen Intervention

The Australian Dollar tumbled against the Japanese Yen on Thursday, reaching its lowest level since July 3 as the JPY surged across the board. The sudden increase in the Yen's value sent AUD/JPY plummeting to around 111.70, down roughly 1.75% on the day.

Suspicions of intervention by Japanese authorities have been fueled by the sharp decline in USD/JPY, which fell nearly 480 pips below the psychological 160 mark. While Tokyo has yet to confirm any action, officials have warned that they are prepared to act against excessive currency moves.

The Bank of Japan's interest rate decision on Friday is now a key focus for traders, who will also be keeping an eye on the Tokyo Consumer Price Index (CPI) and Unemployment Rate. The BoJ is widely expected to keep its policy rate unchanged at 1.00%.