Aussie Dollar Near 35-Year High Vs Yen But Rally Could Lose Steam -- Market Talk

Dow Jones
03/12

1336 GMT - The Australian dollar trades near an 35-year high against the Japanese yen as oil prices remain elevated due to the Iran war, Rabobank's Jane Foley says in a note. Australia is a net energy exporter and the country's central bank is expected to raise interest rates further. Japan is an energy importer. However, the high volatility, risk-averse environment could curb demand for carry trades, discouraging investors from borrowing in the low-yielding yen to buy the higher-yielding Australian dollar, Foley says. "Japan still has a healthy current account surplus, and this suggest scope for sharp pullbacks in times of elevated market uncertainty." The Australian dollar falls 0.1% to 113.29 yen but stays near the overnight high of 113.68 yen. (renae.dyer@wsj.com)

 

(END) Dow Jones Newswires

March 12, 2026 09:36 ET (13:36 GMT)

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