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.
Historically, the Japanese Yen reached an all time high of 358.44 in January of 1971. Japanese Yen - data, forecasts, historical chart - was last updated on June of 2021.
The Japanese Yen is expected to trade at 110.66 by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate it to trade at 112.06 in 12 months time.