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||-0.6%||110.8547||24 Feb 2020|
|7 Day||+0.2%||109.9212||18 Feb 2020|
|30 Day||+1.3%||108.8015||26 Jan 2020|
|3 Month||+0.7%||109.3732||27 Nov 2019|
|1 Year||-0.8%||111.0422||25 Feb 2019|
|5 Year||-7.6%||119.2714||26 Feb 2015|
|10 Year||+23.7%||89.0263||27 Feb 2010|
*For period to 25-Feb 21UTC when USD/JPY was 110.1675
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
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