The Japanese Yen was little changed near 4-week highs of 104.551 against the US Dollar on Thursday. Investors moved into the safe-haven Yen after the IMF downgraded its forecast for Asia-Pacific region to a contraction of 2.2% in 2020, while traders also monitored US fiscal stimulus developments as President Donald Trump expressed skepticism that an agreement could be reached with Democratic leaders on a new round of coronavirus aid relief. The news follows Federal Reserve Governor Lael Brainard’s call for further fiscal support from Congress, noting that more stimulus is needed to address a recovery that has left out large parts of the economy.
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 October of 2020.
The Japanese Yen is expected to trade at 105.02 by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate it to trade at 106.34 in 12 months time.