Yen exchange rate today
According to Lao Dong, on March 24, the Japanese Yen (JPY) continued to be under downward pressure as Japanese economic data was not very positive.
The Yen exchange rate against the US Dollar, at noon on March 24 Vietnam time, fluctuated around 149,671 USD/JPY; meaning 1 USD was exchanged for about 149 JPY.
Japan's economic data is not positive, causing the Yen to depreciate
According to FXStreet, Japan's manufacturing PMI fell to 48.3 in March 2025, marking the ninth consecutive month of decline in the sector. This further weakens confidence in the Japanese economy, dragging the JPY lower.
Another factor that is putting pressure on the JPY is information about President Donald Trump's tariff policies. Reports suggest Trump may impose a lighter counterpart tax rate than initially expected. This reduces concerns about global trade disruptions, causing demand for safe-haven assets such as the JPY to decline.
Although the JPY is under downward pressure, expectations that the Bank of Japan (BoJ) may continue to raise interest rates are partly supporting this currency. The results of labor negotiations show that Japanese enterprises have agreed to increase wages strongly for the third consecutive year. In addition, inflation in Japan remains above the 2% target, creating conditions for the BoJ to continue tightening monetary policy.
In a recent speech, BoJ Governor Kazuo Ueda emphasized that the central bank will adjust monetary policy in line with economic prospects and inflation. Deputy Governor Shinichi Uchida also affirmed that the BoJ will raise interest rates if economic conditions allow. These statements help ease JPY downward pressure, but are still not enough to reverse the trend.
