The yen rose against the U.S. dollar on Friday for a fourth straight day as investors unwound bets against the Japanese currency due to uncertainty surrounding central banks.
The yen rose against the dollar to levels not seen since the Bank of Japan unleashed its aggressive stimulus in early April.
The dollar recovered lost ground against the yen on Wednesday after a sharp sell-off the previous day as investors sought to buy at cheaper levels.
Scott Maddock , Senior Analyst at Macquarie Private Portfolio Management says the rotation out of yield in the recent market correction is temporary, and that Australian investors will start favoring high yielding stocks again.
Keagan York, Head of FX Strategy at Compass Global Markets forecasts the bottom for the Australian dollar will be 93.25 against the greenback.
The yen soared on Tuesday after the Bank of Japan decided not to announce additional measures to curb recent volatility in the bond market.
The dollar rose sharply versus the yen on Monday, bolstered by stronger-than-forecast Japanese data and a Standard & Poor's upgrade to the credit outlook for the United States.
The dollar recovered on Friday from steep losses in the previous session after a government report showed a reasonably healthy pace of U.S. job creation in May.
The dollar fell sharply against the yen and euro on Thursday, hitting levels not seen in months, as investors fretted that upcoming U.S. jobs data would disappoint.
Nathan Bell, Research Director at Intelligent Investor says Australian companies with a global focus should benefit from the weaker Australian dollar, and shareholders will reap the returns.
Todd Elmer, Currency Strategist at Citi explains why now is the time short the Australian dollar. He says a slowing China has led him to change his previous bullish call on the currency.
The dollar weakened against most currencies on Wednesday after a report showed hiring in the U.S. private sector fell short of expectations last month.
The dollar recovered against the yen on Tuesday as investors sought to take advantage of the previous day's cheapening to buy back the U.S. currency.
Mitul Kotecha, Head of Global FX Strategy at Credit Agricole CIB says the AUD is looking relatively cheap and thinks it will bottom at about 0.96.
Savanth Sebastian, Equities Economist at Commonwealth Securities talks about what to expect from the Australian economy as the RBA prepares to announce their decision on rates
The dollar plunged against a broad swath of currencies on Monday as weak U.S. manufacturing data curbed expectations that the Fed will rein in its bond purchases soon.
Greg Matwejev, Director, FX Hedge Fund Sales and Trading, Newedge says the Japan QE story is compelling but expect some volatility ahead for the Japanese Yen. Kumar Palghat, Director at Kapstream joins in the conversation.
Joe Magyer, Senior Analyst at The Motley Fool gives his arguments for being bullish on the US economy but not on the US equity markets.
The dollar rose Friday and was headed for its eighth straight month of gains against the yen on robust U.S. economic data.
CNBC's Rick Santelli talks with Miller Tabak's Matt Maley about how the price of lumber is impacting the housing recovery.