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The Guardian - AU

National

Jonathan Barrett Business editor

As Japan’s yen peaks, is the era of budget-friendly trips coming to an end for Australian travellers?

Japan United States Dean Long IG Australian Dollar Tokyo

A Lawson convenience store with Mount Fuji behind at Kawaguchiko station — About 1 million Australians travelled to Japan in 2025-26, a threefold increase from a decade earlier. Photograph: Jheng Yao Lin/Alamy

In the unpredictable world of global currency markets, there has been one safe bet: that the Japanese yen would continue its relentless decline.

In recent weeks, that trade has started to unravel after Tokyo and Washington intervened to support the longsuffering Japanese currency.

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