Yen surge against dollar: Japan FinMin Taro Aso says government7:56 AM
The Japanese Yen is the currency of Japan. The currency code for Yen is JPY , and the currency symbol is ¥. Below, you'll find Japanese ...
The Japanese Yen is the currency of Japan. The currency code for Yen is JPY, and the currency symbol is ¥. Below, you'll find Japanese Yen rates and a currency converter.
The yen was the big story in N.Y. trade on Thursday, as the currency continued its steep climb. USD-JPY fell to near 18 month lows of 107.67, as EUR-JPY plunged to one-month lows of 122.55 after topping over 125 during the overnight session. Stocks, yields and oil prices fell, with risk-off conditions fueling support for the yen. EUR-USD was range bound, while USD-CAD traded up on weak crude prices. Cable, as has been the case for a while, struggled over 1.4100 and traded briefly into 1.4050.
Japanese Yen Hits 17-Month High Against US Dollar; Central Bank Could Implement More Stimulus Measures Later This Month||""The Japanese yen soared Thursday to its highest level in 17 months despite efforts by the Bank of Japan to lower the value of the currency to stimulate the country’s export-driven economy. Concern about global growth has sent buyers to the perceived safety of the Japanese currency.
The yen was up to 108.76 to the U.S. dollar early Friday in Tokyo, its highest level since October 2014, when the Bank of Japan implemented a second round of aggressive asset buying that introduced more local currency into the markets.
The yen was surging for the sixth straight day after gaining as much as 1.7 percent against the dollar on Thursday. The yen is up about 10 percent against the dollar this year.
“We’re watching the foreign exchange market with a sense of tension, and we’ll take measures as appropriate,” Yoshihide Suga, the chief Cabinet secretary, said at a news conference, as reported by the Financial Times. “The government believes excessive and disorderly movements in the exchange rate have a negative effect.” A senior official at the Finance Ministry echoed Suga’s remarks.
Exacerbating the problem is U.S. monetary policy. U.S. Fed Chair Janet Yellen has indicated a slower pace of interest rate hikes this year, which has weakened the dollar, making U.S. exports more competitive. Concerns that British voters will leave the European Union has weakened the pound. And like Japan, the eurozone is struggling to fight off the risk of deflation and has implemented measures to weaken the euro.""||
Japanese yen to us dollar1 Japanese Yen equals0.0092 US Dollar.
1 US Dollar equals108.72 Japanese Yen
Japanese yen, Japan, Tarō Asō, United States Dollar
Japan’s Yen Gains in Value against US DollarThe Japanese yen has risen to its highest value in relation to the United States dollar in one and one half years.The yen is increasing in value on foreign exchange markets; yet Japanese finance officials have supported policies aimed at limiting its rise.The appreciating value of the yen could hurt Japan’s efforts to increase inflation in the country. Some experts think rising prices could strengthen economic growth in the world’s third largest economy.
Japan’s money has traded at about 111 yen to one U.S. dollar in recent days. The yen has also risen in value against other major currencies, including the euro.The yen’s value has increased almost nine percent on foreign exchange markets this year.
That is the biggest increase among the Group of 10 industrial countries during that period.The group includes Belgium, Britain, Canada, France, Germany, Italy and Japan. The Netherlands, Sweden, Switzerland and the United States are also members.The Group of 10 has agreed to cooperate on economic and monetary issues with the International Monetary Fund.Japanese officials have said they may be willing to take additional measures to fight the rising value of the yen.