The Japanese Yen lost 0.395 points or 0.36% to 107.206 against the US Dollar on Friday, trading 0.38% lower for the week, ahead of United States President Donald Trump’s announcement in response to China’s new security legislation for Hong Kong later today. On the data front, the unemployment rate in Japan edged up to 2.6 percent in April 2020 compared to 2.5 percent in the prior month, posting the highest jobless rate since December of 2017. Industrial production in Japan declined by a preliminary 9.1 percent month-on-month in April 2020, the steepest drop in industrial output since March of 2011. On an annualized basis, industrial output plunged 14.4 percent in April, the seventh straight month of decline. Finally, Japan's retail trade tumbled 13.7 percent from a year earlier in April 2020 after a 4.7 decline in the prior month, falling for the sixth time in seven months.
Historically, the Japanese Yen reached an all time high of 358.44 in January of 1971. Japanese Yen - data, forecasts, historical chart - was last updated on May of 2020.
The Japanese Yen is expected to trade at 107.60 by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate it to trade at 108.96 in 12 months time.