Yen exchange rate today
According to Lao Dong, on April 22, the Japanese Yen (JPY) continued to maintain its upward trend for three consecutive days, as investors rushed to safe-haven assets amid escalating trade tensions between the US and China.
The Yen exchange rate against the US Dollar currently fluctuates around 140.167 USD/JPY. This is also the highest price of the Yen since July 2023.
The main reason comes from concerns that US President Donald Trump's new tariff measures could aggravate the risk of a global economic recession.
Yen appreciates steadily
Not only supported by safe-haven demand, the Japanese Yen is also being boosted by growing expectations that the Bank of Japan (BoJ) will continue to raise interest rates in 2025. In contrast to this, the US Federal Reserve (Fed) is facing great pressure to loosen monetary policy.
With the big difference between the BoJ's and the Fed's policy stance, investors are losing confidence in the US dollar.
In the opposite direction, Japan is still in the process of trade negotiations with the US. Japanese economic rebirth minister Ryosei Akazawa said after the first round of negotiations last week that the two sides needed more time to narrow the difference, especially in the protection of the Japanese agricultural industry before the US automobile industry requirements. It is expected that Japanese Finance Minister Katsunobu Kato will have a meeting with US Secretary of Finance Scott Bessent this week to discuss exchange rates and related issues.
In the context of many geopolitical and monetary policy instability as at present, the Japanese Yen is still considered a safe destination for global investors.
