Yen exchange rate today
According to Lao Dong, on June 9, the Japanese Yen (JPY) suddenly increased in value against the US Dollar (USD), in the context of the market increasingly believing that the Bank of Japan (BoJ) will continue to increase interest rates in the coming time. This expectation was reinforced after the Japanese government's release of GDP data for the first quarter of 2025 was adjusted more positively.
As of now, the USD/JPY exchange rate is still fluctuating below 144.50 the highest level in more than a week set last Friday.
Yen surpasses price when Japan's GDP is adjusted more positively than expected
Instead of falling 0.2% as initially estimated, the Japanese economy actually did not fall in the first quarter, which was better than expected. Personal consumption a factor accounting for more than half of the economy also recorded a slight increase of 0.1% compared to the standing figure in the previous report. These signs show that the Japanese economy is recovering slightly, creating conditions for the BoJ to continue its monetary tightening policy.
However, investors are still cautious and have not placed a strong bet on the Yen, as they are waiting for the results of the trade talks between the US and China taking place today in London. This is considered an important event that can affect the global financial market.
On the other hand, the US dollar has failed to maintain its upward momentum since the end of last week, despite the better-than-expected US jobs report. The US economy added 139,000 jobs in May up from 130,000 but still below the April adjustment data. The unemployment rate remained at 4.2%, while average income now continues to increase by 3.9% exceeding the expectation of 3.7%. These figures reduce the likelihood that the US Federal Reserve (Fed) will soon cut interest rates this year, thereby helping the USD not fall too much.
Investors are also closely monitoring the geopolitical situation in Ukraine. Russia has carried out many major attacks on the city of Kharkiv using drones, missiles and guided bombs. Moscow also said a tank division had approached the western border of Donetsk, raising concerns about the possibility of escalating tensions as peace talks were still at a standstill.
