Wed. Jun 19th, 2024

JPY: JAPANESE YEN DECLINES AS BOJ IS EXPECTED TO MAINTAIN ITS CURRENT INTEREST RATES

The Japanese Yen edges lower as the BoJ is expected to maintain its current interest rates on Friday.

  • has undermined the JPY.
  • The US Dollar holds ground due to reduced odds of the two Fed rate cuts in 2024.

years.

To the downside, the lower boundary of the ascending channel, approximately at the level of 154.90, stands out as the primary support, coinciding with the 50-day Exponential Moving Average (EMA) at 154.86. A breach below this level might intensify downward pressure on the USD/JPY pair, potentially directing it toward the throwback support area around 152.80.

USD/JPY: Daily Chart

Japanese Yen price today

The table below shows the percentage change of the Japanese Yen (JPY) against listed major currencies today. Japanese Yen was the weakest against the Pound Sterling.

 USDEURGBPCADAUDJPYNZDCHF
USD -0.05%-0.07%0.03%0.16%0.11%0.11%0.01%
EUR0.06% -0.03%0.09%0.23%0.18%0.18%0.06%
GBP0.08%0.03% 0.11%0.25%0.20%0.21%0.08%
CAD-0.03%-0.09%-0.11% 0.14%0.09%0.09%-0.04%
AUD-0.17%-0.22%-0.25%-0.14% -0.04%-0.05%-0.17%
JPY-0.13%-0.17%-0.21%-0.09%0.07% -0.02%-0.12%
NZD-0.11%-0.16%-0.20%-0.08%0.06%0.01% -0.11%
CHF0.00%-0.05%-0.09%0.03%0.15%0.11%0.11% 

The heat map shows percentage changes of major currencies against each other. The base currency is picked from the left column, while the quote currency is picked from the top row. For example, if you pick the Euro from the left column and move along the horizontal line to the Japanese Yen, the percentage change displayed in the box will represent EUR (base)/JPY (quote).

Japanese Yen FAQs

What key factors drive the Japanese Yen?

The Japanese Yen (JPY) is one of the world’s most traded currencies. Its value is broadly determined by the performance of the Japanese economy, but more specifically by the Bank of Japan’s policy, the differential between Japanese and US bond yields, or risk sentiment among traders, among other factors.

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