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USDJPY traded above 110.5
The US Dollar exchange rate rose above 110.5 Japanese Yen in the foreign exchange interbank market.
Published on 2021-07-23

Japanese Yen Retreats
The Japanese yen weakened to above 110 per USD as investors' risk appetite improved after a flight to safety early in the week briefly sent the yen to a near 2-month high of 109.1. Traders try to shrug off concerns over the spread of the Delta variant and a slowdown in global economic recovery. Meanwhile, the Japanese government had imposed a state of emergency in Tokyo until after the Olympic Games end on August 8th but fears of an outbreak at the Olympics are rising as more athletes and staff are getting infected.
Published on 2021-07-22

Japanese Yen Strenghtens to 7-Week High
The Japanese yen briefly strengthened to below 109.1 against the USD in the 3rd week of July, the lowest since May 27th as the flight to safety continues as the Delta variant of the coronavirus is spreading and the fast speed recovery remains in question. The Japanese government had imposed a state of emergency in Tokyo until after the Olympic Games end on August 8th but fears of an outbreak at the Olympics are rising as more athletes and staff are getting infected.
Published on 2021-07-19

Japanese Yen Hits 5-week High
USDJPY decreased to a 5-week low of 109.53
Published on 2021-07-19

Yen Close to 4-Week Highs
The Japanese yen has been trading around 110 per USD in July, close to 4-week highs, amid a general increase in risk-off mood, as the Delta variant of the coronavirus is spreading and the fast speed recovery remains in question. The BoJ recently cut growth projections for the current FY to 3.8% from earlier forecasts of 4%, amid the impact of COVID-19. Meanwhile, the Japanese government had imposed a state of emergency in Tokyo until after the Olympic Games end on August 8th but fears of an outbreak at the Olympics are rising as more athletes and staff are getting infected.
Published on 2021-07-19

USDJPY traded above 110
US Dollar Japanese Yen increased above 110, in the previous trading session.
Published on 2021-07-14

Japanese Yen Trades Below Monthly Highs
The Japanese Yen was steady at 110.16 against the US Dollar, after touching 4-week highs in the previous week. Sentiment remained muted after Prime Minister Yoshihide Suga's government put Tokyo under its fourth COVID-19 state of emergency on Monday as cases continue to accelerate. Local 10-year bond yields were near 6-month lows of 0.023% while US 10-year rates yielded 1.343%. Among local data, core machinery orders excluding ships and electric power companies rose by 7.8% month-over-month in May, the 3rd straight month of increase and the steepest since October 2020.
Published on 2021-07-12

Yen Strengthens to 4-Week High
The Japanese Yen strengthened to below 110 against the USD this week, almost touching a 4-weeks high as investors' interest switched to safe heaven assets as the Delta delta variant of the coronavirus is spreading and the fast speed recovery remains in question. The Fed's last meeting minutes showed officials were not ready to set up a timeline for scaling back asset purchases as uncertainty on the economic outlook remains and the PBoC hint at monetary easing to boost growth, including a reserve ratio cut and rising liquidity.
Published on 2021-07-09

Yen Strenghtens to 4-Week High
The Japanese Yen strengthened to below 110 against the USD this week, almost touching a 4-weeks high as investors' interest switched to safe heaven assets as the Delta delta variant of the coronavirus is spreading and the fast speed recovery remains in question. The Fed's last meeting minutes showed officials were not ready to set up a timeline for scaling back asset purchases as uncertainty on the economic outlook remains and the PBoC hint at monetary easing to boost growth, including a reserve ratio cut and rising liquidity.
Published on 2021-07-08

Japanese Yen Strenghtens
The Japanese Yen strengthened this week to trade around 110, almost touching a 1-month high as investors' interest switched to safe heaven assets as the Delta delta variant of the coronavirus is spreading and the fast speed recovery remains in question. US services sector activity fell more than expected in June while the au Jibun Bank Japan Services PMI came in at 48.0 in June 2021, the 17th consecutive month of contraction.
Published on 2021-07-07

Japanese Yen Trades Above 16-Month Lows
The Japanese Yen traded slightly above the 111 handle against the US Dollar, lifting from 16-month lows touched in the previous week as market participants follow reports that the Japanese government is potentially keeping the quasi-state of emergency covering the Tokyo in place during the Summer Olympics, as coronavirus cases continue to accelerate. Tokyo reported 342 fresh coronavirus infections on Monday. Among local data, household spending surged 11.6% yoy in May as consumers bought cars and mobile phones, though the pace of growth slowed from the prior month as a new wave of COVID-19 infections weighed on consumer confidence. Meantime, the au Jibun Bank Japan Services PMI came in at 48.0 in June 2021, the 17th consecutive month of contraction.
Published on 2021-07-06

Japanese Yen Hits 16-Month Lows
The Japanese Yen traded below the 111 handle, touching fresh 16-month lows amid the spread of the highly infectious Delta variant of COVID-19 after the Tokyo metropolitan government on Wednesday reported 714 new daily coronavirus cases. Local 10-year bond yields were near 6-month lows of 0.041% while US 10-year rats held around 1.466%. Sentiment for the Yen was further weakened as data last week showed that the unemployment rate rose to 3% in May, the highest reading since December 2020. Among other data, the Bank of Japan's index for big manufacturers' sentiment jumped to 14 in the June quarter of 2021, the highest reading since the December quarter of 2018, as a recovery in the economy from the COVID-19 crisis gained steam.
Published on 2021-07-01

Japanese Yen Trades Near 15-Month Lows
The Japanese Yen traded around 110.6 against the US Dollar, remaining close to a 15-month low of 111 touched in the previous week as economic revitalization minister Yasutoshi Nishimura noted on Sunday that another state of emergency could be declared as Tokyo and other areas see signs of a resurgence in COVID-19 infections. Last week, BoJ policymakers agreed that the massive stimulus measures deployed by advanced nations may help quicken the pace of recovery in the Japanese and global economies. The upbeat assessment reinforced market expectations that the central bank will keep monetary settings unchanged for the time being. Among data, core consumer prices in Tokyo were unchanged in June from a year earlier, while recent preliminary data showed that the au Jibun Bank Manufacturing PMI fell to the weakest since February.
Published on 2021-06-28

Japanese Yen Hits 14-month Low
USDJPY increased to a 14-month high of 111.05
Published on 2021-06-23

Japanese Yen Trades at 3-Month Lows
The Japanese Yen held near 111.0 at the end of the weel, trading around 3-month lows. Sentiment for the Yen weakened further amid weaker than expected local data, while BoJ minutes from its April meeting showed that policymakers agreed that the massive stimulus measures deployed by advanced nations may help quicken the pace of recovery in the Japanese and global economies. The upbeat assessment reinforced market expectations that the central bank will keep monetary settings unchanged for the time being. In the US, Federal Reserve Chair Jerome Powell on Tuesday noted that officials would not raise interest rates based only on the fear of coming inflation. Among preliminary data, the au Jibun Bank Manufacturing PMI fell to 51.5 in June 2021 from a final 53.0 a month earlier, the weakest reading since February, amid renewed curbs in some parts of the country following the latest wave of COVID-19.
Published on 2021-06-23

Japanese Yen Holds Near 2-Month Lows
The Japanese Yen strengthened slightly to 109.9 against the US Dollar after the Bank of Japan announced a new initiative for providing funds for bank lending to climate-friendly businesses, while extending by six months the deadline for its pandemic-relief support and keeping its ultra-easy monetary policy stance. Still, the yen remains close to 2-month lows of 110.8 touched early in the month, amid general Greenback strength after the Fed adopted a more hawkish tone. Meanwhile, the Japanese government lifted the coronavirus state of emergency in Tokyo and eight other regions while keeping some restrictions amid concerns about a surge in infections with a little more than a month until the Tokyo Olympics.
Published on 2021-06-21

Yen Gains Slightly after BoJ
The yen strengthened slightly to 110.1 per USD after the Bank of Japan announced a new initiative for providing funds for bank lending to climate-friendly businesses, while extending by six months the deadline for its pandemic-relief support and keeping its ultraeasy monetary policy stance. Still, the yen remains close to 2-month lows of 110.8 touched early in the month, amid a general dollar strength after the Fed adopted a more hawkish tone. Meanwhile, the Japanese government lifted the coronavirus state of emergency in Tokyo and eight other regions while keeping some restrictions amid concerns about a surge in infections with a little more than a month until the Tokyo Olympics.
Published on 2021-06-18

Japanese Yen Hits 10-Week Low
The Japanese yen depreciated to its lowest level against the dollar in over two months, testing the 110.50 area for the first time since April 6th as hawkish comments from the Fed sparked bullish bets in the greenback. The Fed sharply raised its forecasts for inflation this year and brought forward the time frame on when it will hike interest rates. This change in outlook came to benefit investors who expect that Jay Powell and his rate-setting colleagues will need to think about scaling back quantitative easing to prevent the US economy from overheating. Meanwhile, the Bank of Japan announced earlier this week that will extend its pandemic-relief programs to support a fragile economic recovery.
Published on 2021-06-16

Japanese Yen Trades Near 2-Week Lows
The Japanese Yen was around 110 against the US Dollar on Wednesday, refreshing 2-week lows touched in the previous session as Bank of Japan announced earlier this week that will extend its pandemic-relief programmes to support a fragile economic recovery. In addition, investors remained cautious ahead of the FOMC outcome as the rising price pressures could alter the Fed’s monetary policy stance. Domestically, Japan has extended a COVID-19 state of emergency in Tokyo and nine other regions until June 19th, five weeks before the postponed Tokyo 2020 Olympics are due to start.
Published on 2021-06-16

USD/JPY Eyes June Peak
The USD/JPY pair has broken above 110, extending its upward momentum to levels not seen since June 6th, as US Treasury yields recovered ahead of the Fed's two-day June meeting that will provide clues about the path of crisis-era stimulus. Domestically, Japan has extended a COVID-19 state of emergency in Tokyo and nine other regions until June 19th, five weeks before the postponed Tokyo 2020 Olympics are due to start.
Published on 2021-06-15