JPY in the markets
The yen was the star performer in the weeks leading up to this report (May-17), with appreciation driven by a flight to safety following a serious escalation in the US-China trade war. The benchmark yen rate, USD/JPY, was down in the mid-109s, having been as high as 112.4 in late April. Relatively speaking, against their April highs, other yen rates had fallen even more (NZD/JPY was down from 76 to 71.6).
In May, 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||-0.5%||108.0672||19 Sep 2019|
|7 Day||-0.5%||108.0853||13 Sep 2019|
|30 Day||+0.9%||106.6030||21 Aug 2019|
|3 Month||+0.2%||107.3151||22 Jun 2019|
|1 Year||-4.4%||112.4905||20 Sep 2018|
|5 Year||-1.3%||108.9705||21 Sep 2014|
|10 Year||+17.9%||91.2453||22 Sep 2009|
*For period to 20-Sep 21UTC when USD/JPY was 107.5500
The Australian dollar is at or near multi-month lows against a number of major currencies in spite of a rampant iron ore market — once a great influence on AUD.
Last update: 15 Jun, 2019
The US-China trade war is hotting up and that’s bad news for the Australian dollar, which slipped on Monday to a 4-month low against the dollar, euro and yen.
Last update: 13 May, 2019
Japanese mega bank MUFG has announced it will end all over-the-counter money transfer services in June of this year in an effort to avert money laundering.
Last update: 19 Mar, 2019
The Australian and New Zealand dollar currencies have been the best performing majors in recent days. Each has gained nine-tenths of a cent against the US dollar since Thursday, with appreciation fuelled by the market’s upbeat mood towards a potential US-China trade agreement.
Last update: 26 Feb, 2019