USD/JPY has gained bullish momentum and broken above the key level of 149.00, with a 1.1% increase in the American session on Thursday. This surge was supported by positive Retail Sales and Jobless Claims data from the US, which boosted the US Dollar Index by more than 0.5% to surpass 103.00.
US Dollar Strengthens on Economic Data
The USD saw a significant uptick in the second half of the day as upbeat economic indicators from the US lifted market sentiment. Weekly Initial Jobless Claims dropped to 227,000 from 234,000, while Retail Sales exceeded expectations by rising 1%. These positive figures alleviated concerns about a potential economic downturn, leading to the USD outperforming its peers. At the time of writing, the USD Index was up 0.55% at 103.15.
Investors are closely monitoring comments from Federal Reserve officials, with the probability of a 50 basis point rate cut decreasing to 23.5% from nearly 50% earlier in the week, according to the CME FedWatch Tool.
US Dollar Price Today
The table below illustrates the percentage changes of the US Dollar (USD) against major currencies today, with the USD showing strength against the Japanese Yen.
| USD | EUR | GBP | JPY | CAD | AUD | NZD | CHF | |
|---|---|---|---|---|---|---|---|---|
| USD | 0.51% | 0.10% | 1.13% | 0.09% | -0.08% | 0.35% | 0.87% |
Japanese Yen FAQs
Here are some frequently asked questions about the Japanese Yen:
- What factors influence the value of the Japanese Yen?
- How does the Bank of Japan impact the Yen’s value?
- What is the relationship between the BoJ’s monetary policy and the US Dollar?
- Why is the Japanese Yen considered a safe-haven investment?
Overall, the surge in USD/JPY above 149.00 was driven by positive US economic data and the strengthening of the US Dollar. Investors are keeping a close eye on Fed comments and the potential for interest rate adjustments, which could impact currency movements in the coming days.