Yen exchange rate today
According to Lao Dong, on April 23, the Japanese Yen (JPY) traded quite hesitantly, when it was affected by many conflicting information on the international financial market. However, the Yen still retains some of its value thanks to domestic support factors and expectations for international trade.
The latest update shows that the Yen against the US Dollar is currently trading around 141.821 USD/JPY; meaning 1 USD can be exchanged for 141 JPY. The Yen decreased slightly compared to yesterday's session.
The Japanese Yen has not determined a clear trend amid much conflicting information
According to FXStreet, the USD is rising again due to the risk-off sentiment of global investors, after the Trump administration signaled a reduction in tensions in the tariff war with China. This has caused investors to shift to assets with higher yields, leaving safe-haven assets such as the Yen. In addition, Mr. Trump's announcement not to fire US Federal Reserve Chairman Jerome Powell also creates a stabilizing sentiment and helps the USD increase in value.
However, the Yen did not depreciate too much thanks to some supportive factors. First of all, there are growing expectations that Japan and the US are getting closer to a temporary trade deal. The US Ambassador to Japan also recently expressed optimism about the possibility of reaching a deal. Meanwhile, Japanese Economic Rehabilitation Minister Ryosei Akazawa said the two sides still have some differences and he may go to the US to continue negotiations at the end of April.
In addition, the market is currently believing that the Central Bank of Japan (BOJ) can continue to raise interest rates in 2025. This is in contrast to the US Federal Reserve, when according to the CME Group's Fedwatch tool, the market is expecting the Fed to cut interest rates at least 3 times from now to the end of the year. The difference in monetary policy between the two economies is supporting the yen does not decrease too deeply.
