JPY in the markets
NAB told Bloomberg TV that it sees a recovery in Asian currencies in the 2nd half of the year if the coronavirus comes under control.
Earlier in the year the threat of proxy war between the US and Iran in Ira helped bring on 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.
Goldman Sachs forecast the downward course for Dollar to Yen to continue with a USD/JPY rate of 95 in the near future.
You can also read our full Foreign Exchange Guide to Japan.
Japanese yen – Historical Rates
|1 Day||-0.3%||109.1318||06 Apr 2020|
|7 Day||+1.2%||107.5134||31 Mar 2020|
|30 Day||+4.7%||103.9250||08 Mar 2020|
|3 Month||-0.2%||109.0385||08 Jan 2020|
|1 Year||-2.4%||111.4490||08 Apr 2019|
|5 Year||-9.7%||120.4435||09 Apr 2015|
|10 Year||+16.4%||93.4229||10 Apr 2010|
*For period to 07-Apr 21UTC when USD/JPY was 108.7785
Currency rates were extremely volatile last week as the coronavirus situation worsened day by day with various countries implementing ever-tougher measures to stop the spread of the disease.
Last update: 23 Mar, 2020
This week the US Dollar was touching three-year highs when valued against a basket of major currencies. The greenback’s traditional role as one of the safe-haven currencies is helped by a domestic economy that is largely immune to the threats of the coronavirus.
Last update: 22 Feb, 2020
The strong start to the year for “risk-on” currencies is already a distant memory.
Posted: 3 Feb, 2020
The threat of a proxy war between the US and Iran in Iraq has pared back some of the recent gains of “risk-on” currencies.
Last update: 8 Jan, 2020