SYDNEY: The Australian and New Zealand dollars extended their losses against the yen to multi-week lows on Friday as traders bet on an imminent end to Japan’s negative interest rates, while prospects of rate cuts at home supported bonds.

The Aussie fell 0.8% to 94.35 yen, after a tumble of 1.3% overnight to a nine-week low of 93.74 yen, as investors took comments from Bank of Japan Governor Kazuo Ueda as the clearest sign yet that the central bank could soon phase out its ultra-loose monetary policy, sending the yen sharply higher.

The broad strength in the yen kept a lid on the dollar, which has been on the defensive ahead of the closely watched US nonfarm payrolls report due later on Friday.

With all of the action in yen, the Aussie was holding at $0.6606, having gained 0.8% overnight. It was set for a weekly loss of 1.1%, in part thanks to a dovish Reserve Bank of Australia that held rates steady on Tuesday.

The kiwi dollar was down 0.7% at 88.27 yen, having also plunged 1.7% overnight to a five-week trough of 87.7 yen. Against the greenback, it was steady at $0.6174, having risen 0.6% overnight.