USD/JPY Gains Ground Near Two-Month Low Near 151.00 As Yen Weakens Across The Board
The USD/JPY pair attracts strong bids near the two-month low of 151.00 and bounces back to near 152.00 at the start of the week. The asset strengthens as the Japanese Yen (JPY) weakens across the board after the release of the weak Japan Current Account data for Japan.
Japanese Yen PRICE Today
The table below shows the percentage change of Japanese Yen (JPY) against listed major currencies today. Japanese Yen was the strongest against the Canadian Dollar.
| USD | EUR | GBP | JPY | CAD | AUD | NZD | CHF | |
|---|---|---|---|---|---|---|---|---|
| USD | 0.04% | 0.05% | 0.36% | 0.36% | -0.12% | 0.07% | 0.08% | |
| EUR | -0.04% | 0.08% | 0.45% | 0.44% | -0.16% | 0.11% | 0.12% | |
| GBP | -0.05% | -0.08% | 0.21% | 0.33% | -0.24% | 0.03% | 0.04% | |
| JPY | -0.36% | -0.45% | -0.21% | -0.01% | -0.39% | -0.27% | -0.24% | |
| CAD | -0.36% | -0.44% | -0.33% | 0.01% | -0.46% | -0.33% | -0.32% | |
| AUD | 0.12% | 0.16% | 0.24% | 0.39% | 0.46% | 0.28% | 0.29% | |
| NZD | -0.07% | -0.11% | -0.03% | 0.27% | 0.33% | -0.28% | 0.00% | |
| CHF | -0.08% | -0.12% | -0.04% | 0.24% | 0.32% | -0.29% | -0.01% |
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 Japanese Yen from the left column and move along the horizontal line to the US Dollar, the percentage change displayed in the box will represent JPY (base)/USD (quote).
The Ministry of Japan reported that the Current Account balance was 1,077.3 billion Yen, almost one-third of November’s reading of 3,352.5 billion Yen.
The Japanese Yen was outperforming its peers last week on firming speculation that the Bank of Japan (BoJ) will raise interest rates further, a scenario that will reduce interest rate differentials with other central banks.
Meanwhile, the US Dollar (USD) is slightly higher amid a risk-aversion mood on renewed fears of a global trade war. On the weekend, United States (US) President Donald Trump threatened to impose 25% tariffs on all imports of steel and aluminum and reciprocal tariffs over nations where he sees unfair trade practices.
The US Dollar Index (DXY), which tracks the Greenback’s value against six major currencies, is 0.1% higher, around 108.20, but has dropped from the intraday high of 108.50.
Investors worry that Trump’s international agenda will impact the US economy and cause inflation. This scenario would force Federal Reserve (Fed) policymakers to maintain a cautious stance on interest rates for longer.
For more guidance on the monetary policy outlook, investors will focus on Fed Chair Jerome Powell’s testimony before the Congress on Tuesday and Wednesday.
More By This Author:
EUR/USD Rebounds While US Trump’s Tariffs Threats Keep Investors On ToesUSD/CAD Drops To Near 1.4300 After US-Canada Employment Data
GBP/JPY Price Forecast: Rebounds From Four-Month Low Of 188.00
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