Previous Close | 151.3720 |
Open | 151.3680 |
Bid | 151.2000 |
Day's Range | 151.1690 - 151.4960 |
52 Week Range | 130.6840 - 151.9440 |
Ask | 151.2090 |
The USD continues to look strong against the lowly JPY, as the market continues to see a lot of upward pressure due to the interest rate differential, and the possibility that the Fed may not raise rates anytime soon.
Japan's currency is plumbing three-decade lows. + The main culprit of weakness in the last couple of years is the interest-rate gap between the U.S. and Japan. + A big gap encourages carry trades, in which investors borrow in yen and invest in higher-yielding dollar assets.
The Bank of Japan tried jawboning the markets overnight, offering a buying opportunity for those that are more long-term focus in this pair.