The Australian and New Zealand dollars shot up to fresh four-and-a-half year highs against the yen on Friday as the Bank of Japan's (BoJ) pledge to massively expand its balance sheet sent the Japanese currency into a nosedive. The Aussie flew to 101.10, having already surged 3.2 percent on Thursday after the BoJ far-surpassed expectations with a sweeping monetary expansion campaign. The Australian dollar broke the 100 yen barrier for the first time since August 2008 in the largest one-day gain in two years. Next target is the 104.48 peak from July 2008 which would open the way to a test of 107.84, the 2007 high. Likewise, the New Zealand dollar climbed to around 81.60 yen, its highest since June 2008, as Japan's easing action contrasted sharply with the view that New Zealand interest rates may rise in the coming year. Against the US dollar, the Antipodean currencies struggled to make any headway as they got caught in yen crossfire and position adjustments. The Aussie was last at $1.0423, from $1.0432 early, pulling further away from a 10-week high of $1.0498 set this week. The kiwi slipped to $0.8410, from $0.8422, backing off from a six-week high around $0.8450 this week.

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