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USD to JPY 2024 Forecasts

Analysis of recent Dollar → Yen forecasts for 2024. We collate forecasts from respected FX analysts together with the latest US dollar to Japanese yen performance and trends.

 

Forecasts for USD to JPY

 

The USD to JPY exchange rate has seen the US dollar strengthening significantly against the Japanese yen, as highlighted by recent market data indicating the USD to JPY at 151.5, which is considerably above its 3-month average of 147.9. This current strength in the US dollar comes as investors have scaled back their anticipations for Federal Reserve interest rate cuts, influenced by a robust US jobs report and persistently strong economic performance despite inflationary pressures. Currency analysts observe that the market's outlook may remain bullish for the USD, provided the risk sentiment stays subdued. Furthermore, with the Non-Farm Payrolls report for January vastly surpassing expectations, the prospect of an imminent Fed rate cut has been dampened, prompting FX traders to push back their estimates to a potential rate reduction in June.

On the other side of the pair, the Japanese yen has weakened to levels not seen since 1990, with the USD to JPY touching the highest point within a stable range. Economists underline this movement as a consequence of the Bank of Japan's (BOJ) pivot in March, which turned out less aggressive than expected by the markets. The shift away from the world's last negative interest-rate regime by the BOJ has failed to provide substantial support to the yen, as the interest-rate differentials with other economies, especially the US, are anticipated to remain vast. The yen's slide, amid these developments, has caught the attention of Japan's Finance Minister, indicating a heightened state of alert regarding potential market intervention.

Commodity prices, such as oil, also play a role in the currency dynamics, with the recent Brent Crude OIL/USD price data revealing a significant trend. Oil prices have remained volatile, hovering 5.6% above the 3-month average, which can have an indirect impact on the yen due to Japan's status as a major importer of oil. Market analysts often track these movements as oil price fluctuations can influence Japan's trade balance and, consequently, demand for the yen. The USD/JPY currency pair will likely remain under the influence of the contrasting monetary policy outlooks, economic data releases, and commodity price trends in the weeks to come.

 
@bestfxrates : FX analysts note USD to JPY touched 151.5, overshooting 3-month avg. Despite this, Treasury yields may limit further gains. JPY's soft patch could reverse if BoJ shifts hawkish & Fed dovish. Eyes on US-Japan rates, oil volatility & Nikkei's rally for cues on 143-149 range. #Forex #USDJPY #CurrencyMarket

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USD to JPY Market Data

US dollar (USD) to Japanese yen (JPY) market data - latest interbank exchange rate, trend, chart & historic rates.

 
1 USD =
151.32We compare provider deals to this wholesale mid-market rate. Read more
JPY
-0.2%
📉1W
USD to JPY is at 7-day lows near 151.3, 2.2% above its 3-month average of 148, having traded in a relatively stable 7.7% range from 140.8 to 151.6
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Compare & Save - US dollar to Japanese yen

Exchange rates can vary significantly between different currency exchange providers, so it's important to compare US dollar (USD) to Japanese yen (JPY) rates from different sources before making a conversion.

Use our USD to JPY calculator to see how much you could save on your international money transfers. makes it easy to compare the Total Cost you are being charged on Dollar to Yen currency rates and the possible savings of using various providers.

 
DateUSD/JPYChangePeriod
13 Mar 2024
147.60
2.5% 2 Week
28 Dec 2023
141.44
6.9% 3 Month
28 Mar 2023
131.05
15.4% 1 Year
29 Mar 2019
110.87
36.4% 5 Year
30 Mar 2014
102.88
47% 10 Year
01 Apr 2004
103.74
45.8% 20 Year
USD/JPY historic rates & change to 27-Mar-2024
 

Will the US dollar rise against the Japanese yen?

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Read our Currency guide to Japan - a practical currency and money guide to travel, living and doing business in Japan with the Japanese yen.

 
 

Forecasts disclaimer: Please be advised that the forecasts and analysis of market data presented on BestExchangeRates.com are solely a review and compilation of forecasts from various market experts and economists. These forecasts are not meant to reflect the opinions or views of BestExchangeRates.com or its affiliates, nor should they be construed as a recommendation or advice to engage in any financial transactions. Read more