The Japanese Yen moved 0.382 points or 0.36% higher to 2-week highs of 106.812 against the US Dollar on Friday while gaining 0.61% for the week. Investors moved into the safe haven Yen throughout the Asian session as daily coronavirus infection rates continue to accelerate above historical highs. Globally, 227,000 fresh cases were reported on Thursday, with Japan adding a 3-month high of 358 cases while the United States contributed a record 63,200. On the data front, producer prices in Japan fell 1.6% year on year in June, less than market consensus of a 1.9% fall.
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 July of 2020.
The Japanese Yen is expected to trade at 107.36 by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate it to trade at 108.72 in 12 months time.