NEW! Got a question about currency? Get help from a dedicated foreign exchange expert - completely free of charge. CLICK HERE
TorFX

Japanese Yen to US Dollar (JPY/USD) Exchange Rate – Yen rallies as markets wait for US data

Japanese Yen
The Japanese Yen has strengthened against the US Dollar for the first time in five days as the market awaits the publication of the latest key US non-farm payrolls data.

The Yen also benefited from a bout of profit taking following the conclusion of the Bank of Japans policy meeting and form investors growing jittery ahead of the publication of the August US jobs report.

At the conclusion of its two day long policy meeting the Bank of Japan said that it will expand the monetary base at an annual pace of JPY 60 trillion to JPY 70 trillion, as it left its policy unchanged. Supporting the Yen was the Banks decision to upgrade its assessment of the economy, saying that a moderate recovery is underway. As was widely expected the Bank’s policy makers agreed to not make any material alterations to its already huge easing programme, a move expected by traders.

Also supporting the currency were comments made by the BOJ that it does not expect the economy to worsen if the government sticks with its plan to raise the 5 percent sales tax to 8 percent in April and then to 10 percent in October 2015. The plan has some opponents who say that such a hike will slow consumer spending and delay the escape from deflation. Advocates for the plan say that it would accelerate the lowering of the public debt, which is more than double the size of Japan’s entire economy.

Current Japanese Yen (JPY) Exchange Rates:

The US Dollar/Japanese Yen Exchange Rate is currently in the region of: 99.6649

TorFX

The Pound Sterling/Japanese Yen Exchange Rate is currently in the region of: 155.3504

The Euro/Japanese Yen Exchange Rate is currently in the region of: 130.8192

The New Zealand Dollar/Japanese Yen Exchange Rate is currently in the region of: 79.1887

The Australian Dollar/Japanese Yen Exchange Rate is currently in the region of: 91.1954

(Correct as of 11:30 am GMT)

What Next?

Recent Articles