Name Symbol Market Type
United States Dollar vs Japanese Yen FX:USDJPY Forex Exchange Rate
  Price Change % Change Price Bid Price Offer Price High Price Low Price Open Price Traded Last Trade
  0.00 0.0% 113.6685 113.657 113.68 113.6685 113.6685 113.6685 0 00:00:00

Japanese Yen Extends Fall

11/10/2021 8:53am


US Dollar vs Yen (FX:USDJPY)
Forex Chart

From Jul 2021 to Jan 2022

Click Here for more US Dollar vs Yen Charts.

The Japanese yen extended its decline against its major opponents in the European session on Monday, amid hopes of a wider interest rate differential between the United States and Japan.

While the Federal Reserve is planning to scale back its asset purchases amid a spike in inflation, the Bank of Japan is unlikely to move toward policy normalization soon.

A rise in U.S. treasury yields is widening the interest gap with its Japanese counterpart, pushing down the yen.

The yen was further weighed by rising oil prices due to supply constraints and continued strong demand.

Japanese Prime Minister Fumio Kishida's comments that he would not raise the country's capital gains tax for the time being further underpinned sentiment.

The PM reiterated that the government is focusing on pay hikes before reviewing the capital gains tax.

The yen fell to 113.04 against the greenback, a level unseen since December 2018. The yen may test support around the 116.00 region, if it falls again.

The yen hit 130.72 versus the euro, its weakest level since September 3. On the downside, 132.00 is seen as the next likely support for the yen.

The yen weakened to near a 4-month low of 121.94 versus the franc and a 3-1/2-month low of 154.22 against the pound, off its prior highs of 120.83 and 152.64, respectively. The yen is poised to find support around 124.5 versus the franc and 157.00 against the pound.

The Japanese currency depreciated to more than a 3-month low of 82.99 against the aussie, near 4-week low of 78.55 against the kiwi and a fresh 4-month low of 90.76 against the loonie, retreating from its early highs of 81.85, 77.58 and 89.83, respectively. The yen is seen finding support around 84.00 against the aussie, 80.00 against the kiwi and 93.00 against the loonie.

1 Year US Dollar vs Yen Chart

1 Year US Dollar vs Yen Chart

1 Month US Dollar vs Yen Chart

1 Month US Dollar vs Yen Chart
ADVFN Advertorial
Your Recent History
US Dollar ..
Register now to watch these stocks streaming on the ADVFN Monitor.

Monitor lets you view up to 110 of your favourite stocks at once and is completely free to use.

By accessing the services available at ADVFN you are agreeing to be bound by ADVFN's Terms & Conditions

P: V:gb D:20220122 20:36:52