JPY in the markets
The threat of proxy war between the US and Iran in Iraq has helped bring on the recent gains in the Japanese yen and US dollar plus currencies pegged to the greenback such as the Hong Kong dollar.
Last year, HSBC warned against thinking that yen-supporting safe-haven flows would soon stop, implying that the yen could have more upside potential in the near term. The bank highlighted the “desolation and destruction” (an exaggeration) present in many major economies and currencies. “You can never get too high,” the bank’s chief analyst said.
Sotiabank continue to forecast year-end rates for USD/JPY, AUD/JPY and EUR/JPY of 108, 80 and 130 respectively.
You can also read our full Foreign Exchange Guide to Japan.
Japanese yen – Historical Rates
|1 Day||-0.3%||110.1779||20 Jan 2020|
|7 Day||0%||109.8510||14 Jan 2020|
|30 Day||+0.3%||109.5000||22 Dec 2019|
|3 Month||+1.1%||108.6395||23 Oct 2019|
|1 Year||+0.1%||109.6852||21 Jan 2019|
|5 Year||-7.3%||118.4309||22 Jan 2015|
|10 Year||+22.1%||89.9754||23 Jan 2010|
*For period to 21-Jan 21UTC when USD/JPY was 109.8190
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