Convert USD to JPY - US Dollar to Japanese yen Exchange Rate | FX LeadersFX Leaders
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WHAT IMPACTS THE USD/JPY EXCHANGE RATE
USD/JPY is one of the most popular currency pairs traded in the global forex market, accounting for around 17% of overall daily trading volume as per some estimates. It is known as the second most liquid currency pair worldwide and can see sharp, sudden moves which can offer interesting opportunities for forex traders looking to make some pips.Japan is the world's third largest economy, after the US and China, and the Japanese yen is the third major international currency. Japan, being a trade-dependent economy, likes to keep the value of the JPY weak to earn higher revenues.USD/JPY sees significant price action during the release of key economic data, changes in the monetary policy by the Federal Reserve and the Bank of Japan (BOJ), political developments in the US and Japan, and any major market moving events taking place around the world. This is because the JPY is considered a safe haven currency, which traders like to turn to in terms of high volatility and uncertainty in financial markets.Key economic events that affect the exchange rate of the US dollar and the Japanese yen include the release of GDP, employment, inflation, trade balance as well as manufacturing and services sector activity reports. In addition, any changes made by the Fed or the BOJ to the interest rates also cause movements in the USD or the JPY respectively.
USD to JPY CONVERSION RATES
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USD to JPY CHARTS
USD/JPY Live Chart
USD/JPY Historical Chart
USD to JPY EXCHANGE RATE - FAQ
What makes the Japanese yen a safe haven currency?

The Japanese yen gains strength when markets undergo risk aversion. In the past, during the financial crisis back in 2008-09 and during the Brexit vote in 2016, the JPY appreciated significantly. When markets trade with a risk-on sentiment, investors move away from the safety of the Japanese yen and towards riskier assets.

What other instruments are USD/JPY correlated with?

USD/JPY shares a negative correlation with gold, as the Japanese yen is also considered a safe haven instrument like gold. On the other hand, this forex pair is positively correlated with USD/CHF as the Swiss Franc is another safe haven currency traders turn to in times of high uncertainty.

What was the highest exchange rate for USD/JPY this year?

The highest level USD/JPY touched so far this year was on 19 March 2020 when it rose to 111.27. The currency pair surged as the US dollar strengthened as a safe haven currency during the beginning of the coronavirus pandemic.