Reasons for this include Japan’s continuing fight with Covid-19, the changing price-setting behaviour of companies during the pandemic, rising commodity prices and higher US Treasury yields. The Japanese yen has grown weaker compared to the US dollar in 2021. Factors that have been driving the Japanese yen in 2021 We also review the latest USD/JPY forex forecasts for 2022. In this article, we take a look at the yen’s performance this year and what factors have been driving the USD/JPY trend. On 6 December 2021, the USD/JPY exchange rate fell to 113.150, amid fears of the new Covid-19 variant, Omicron. When investors have fewer assets to hedge against market volatility, the Japanese yen may appeal more than riskier stocks and government bonds. Its heavily traded nature raises the yen’s liquidity. This strength is rooted in Japan’s solid trade surplus. The yen has been historically considered a safe-haven currency owing to its resilience in uncertain times. Registered Address: 32 Old Slip, Suite 803 New York, NY 10005.The Japanese yen (JPY) is the most-traded Asian currency and the world’s third most-traded. HOWEVER, YOU SHOULD BE AWARE THAT NFA DOES NOT HAVE REGULATORY OVERSIGHT AUTHORITY OVER UNDERLYING OR SPOT VIRTUAL CURRENCY PRODUCTS OR TRANSACTIONS OR VIRTUAL CURRENCY EXCHANGES, CUSTODIANS OR MARKETS.įX Publications Inc (dba DailyFX) is registered with the Commodities Futures Trading Commission as a Guaranteed Introducing Broker and is a member of the National Futures Association (ID# 0517400). We recommend that you seek independent advice and ensure you fully understand the risks involved before trading.įX PUBLICATIONS IS A MEMBER OF NFA AND IS SUBJECT TO NFA'S REGULATORY OVERSIGHT AND EXAMINATIONS. We advise you to carefully consider whether trading is appropriate for you based on your personal circumstances. Leveraged trading in foreign currency or off-exchange products on margin carries significant risk and may not be suitable for all investors.
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