Yen exchange rate suddenly breaks out

    Huyền Mai |

    The Yen exchange rate has increased sharply due to the recovery of the USD and the dovish policies of the new Prime Minister of Japan.

    The USD/JPY pair rose back above 144.00 JPY/USD on October 1, after falling slightly due to unclear Japanese economic data and the Bank of Japan (BoJ) being hawkish on the possibility of a rate hike, according to FXStreet. The USD's appreciation is boosting the pair.

    Earlier, in the trading session on Monday, September 30, the USD/JPY pair rose slightly to 143.00. This increase was partly due to dovish comments from Japan's new Prime Minister, Shigeru Ishiba, after he won the election on September 27. Ishiba said that monetary policy should continue to support the economy in the current context.

    Investors are focusing on the BoJ's report on its monetary policy meeting on September 20. During this meeting, the BoJ kept interest rates unchanged at 0.1%-0.25% and said future decisions would depend on the economic situation.

    The US dollar also recovered slightly, pushing the USD/JPY pair higher. The US dollar index (DXY), which tracks the greenback against six other currencies, rose to near 100.50.

    USD/JPY rose in late trading yesterday, gaining more than 1% after Federal Reserve Governor Jerome Powell spoke at the latest meeting.

    The Fed governor said inflation has broadly returned to pre-pandemic levels, adding that job creation has fallen "very significantly" and said there is no need to accelerate rate cuts.

    When the Fed does not lower interest rates, the USD becomes attractive because of its high yield, while Japan keeps interest rates low to support its economy. This interest rate differential causes investors to shift capital into the USD, making the USD stronger and the JPY weaker. As a result, the USD/JPY pair rises, meaning the USD appreciates against the JPY.

    In the coming days, if USD/JPY breaks above 144.00, the next resistance will be at 145.00, followed by the 50-day moving average (DMA) at 145.92. The next stop will be the bottom of the Kumo pattern around 148.00-148.20.

    Conversely, if USD/JPY remains below 144.00, the exchange rate will retreat to 143.46. Immediately after this level is 143.39, followed by 143.00.

    According to Lao Dong, at 12:00 on October 1, the exchange rate of the Japanese Yen against the US dollar is currently hovering around the highest low of the day at 144.41 JPY/USD and the lowest at 143.38 JPY/USD.

    (See more news about exchange rates HERE)

    Bieu do ty gia USD/JPY cap nhat 12h00 ngay 1.10. Anh: Investing.com.
    USD/JPY exchange rate chart updated at 12:00 on October 1. Photo: Investing.com.
    Huyền Mai
    RELATED NEWS
    Kinh Bac University students face the risk of graduation delay due to a sudden decision to stop studying. Photo: Anh Tuan

    Kinh Bac University students face the risk of graduation delay due to unexpected dropout decision

    |

    Students of Kinh Bac University face the risk of learning disruption, affecting graduation progress after a sudden announcement of training suspension from the principal.

    Wine shop fire in the center of Ho Chi Minh City at rush hour, traffic jam

    |

    Ho Chi Minh City - On the afternoon of January 27, a fire occurred inside a liquor store on Hai Ba Trung street, causing prolonged congestion in the central area, and many people panicked.

    Violations have just appeared, Hanoi Police handle immediately thanks to surveillance cameras

    Cameras intervene, Hanoi Police quickly handle sidewalk and roadway violations

    |

    Hanoi - Urban order violations have just appeared and have been detected by functional forces through surveillance cameras, promptly dispatching forces to handle them at the scene.

    Traffic Police Department informs about the case of a driver being heavily fined because the license plate was covered in mud

    |

    Hanoi - Functional forces fined more than 20 million VND to a driver who drove a car with a license plate covered by mud for a long time.

    The journey to rescue white swans at Saigon Zoo and Botanical Gardens after 24 hours.

    Rescue white swans at Saigon Zoo and Botanical Gardens after 24 hours of being stolen

    |

    Ho Chi Minh City - On January 27, Saigon Zoo and Botanical Gardens successfully rescued the stolen white swan, bringing it back safely after 24 hours of tracking to Tay Ninh and Can Tho.

    In the period 2026 - 2045, Hanoi will relocate more than 860,000 to serve the urban restructuring process. Photo: Hai Nguyen

    Relocating more than 860,000 people in the inner city, resettling in Dong Anh, Gia Lam, Hoa Lac

    |

    Hanoi - From 2026 - 2045, the city will relocate more than 860,000 people in the inner city, arrange resettlement on the spot or in Dong Anh, Gia Lam, Hoa Lac.

    Yen exchange rate rises again but still struggles

    Huyền Mai |

    The Yen exchange rate today, September 30, increased slightly around 142.00 thanks to economic stimulus measures from China and Japan's supportive monetary policy.

    Yen exchange rate suddenly drops after reaching peak

    Huyền Mai |

    After former Defense Minister Shigeru Ishiba won the election for Japanese Prime Minister, the Yen exchange rate suddenly fell.

    Yen exchange rate increases to an unbelievable level

    Huyền Mai |

    The Yen exchange rate on September 27 increased to a three-week high after Tokyo's inflation data.