Convera’s Global Head of Market Insights Steven Dooley discusses the reason why Japan’s currency is underperforming.

The Australian dollar has surged to a ten-year high against the Japanese Yen.

Currently one Australian dollar is buying roughly 102 Yen.

“Interest rates are really a key driver of valuations,” Mr Dooley told Sky News Business Reporter Ed Boyd.

“The fact that while most central banks … have seen interest rates higher, while Japan has kept rates broadly steady and only just recently started raising them – that’s caused their currency to underperform.”

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