Aussie-Yen on Track for Three-Decade High as Intervention Impact Fades

The Australian dollar is on track to reach its highest level against the yen in over three decades. The currency pair has already begun recovering from a drop of more than 4% following Japanese intervention, closing at around 111.52 last week.

Analysts say that as the impact of Tokyo's currency intervention fades and the Reserve Bank of Australia maintains its hawkish stance, the Aussie-Yen is poised to climb back toward the 109 level.

This level has not been seen since 1985, when the Australian dollar was trading at a peak against the yen.