USD / JPY
The yen cross — the world's classic carry-trade currency and risk-on/off barometer.
Previous close ¥160.021
Chart — coming soon
1-month, 3-month, 1-year sparklines land in the next update — along with 52-week high / low stats and YTD performance.
The 30-second take
USD/JPY is driven by the US-Japan rate differential. When US rates rise faster than Japanese rates, USD/JPY goes up (yen weakens). Historically the yen has been a safe-haven — rallies when risk is off — but that relationship broke in 2022–2024 with BoJ easing. Today it's more about policy divergence. A strong dollar + weak yen benefits the Nikkei (exporters) but pressures Japanese consumers. Critical for Japan-exposed M&A and global macro answers.
Historical reference points
Bankers instinctively contextualise today's level against these moments. Each row shows how far the current level is above / below that reference.
- 2011 yen peakOct 2011¥76.00+110.56%
- 2015 spikeJun 2015¥125.00+28.02%
- 2022 interventionOct 2022¥151.00+5.98%
- 2024 peakJul 2024¥161.00-0.60%
Compare against
Master the whole framework
The live numbers are one leg. Read the lesson for the four things to always know, plus the full interview script.
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