Yen weakens across the board

Japanese Yen exchange rate on January 3, 2025 in the domestic market

Based on data recorded this morning, the Japanese Yen exchange rate at banks is updated as follows:

Vietcombank : Buying price reached 156.09 VND/JPY, selling price was 165.17 VND/JPY, down 0.77 VND and 0.95 VND respectively in both buying and selling directions.

VietinBank : Exchange rate is at 158.08 VND/JPY (buy) and 167.78 VND/JPY (sell), down 0.61 VND in buying but up 1.34 VND in selling.

BIDV Bank: Exchange rates are 157.95 VND/JPY (buy) and 166.15 VND/JPY (sell), down 1.04 VND and 0.41 VND compared to before.

Agribank: Buying and selling prices are 157.90 VND/JPY and 165.31 VND/JPY, respectively, down slightly by 0.8 VND and 0.87 VND in both directions.

Eximbank: Buying rate is 159.61 VND/JPY and selling rate is 165.47 VND/JPY, slightly down 0.16 VND for buying and 0.38 VND for selling.

Sacombank: Recorded prices of 159.32 VND/JPY (buy) and 166.36 VND/JPY (sell), down 0.16 VND and 0.13 VND respectively.

Techcombank: Buying price is 155.42 VND/JPY and selling price is 167.88 VND/JPY, down 0.49 VND and 0.53 VND respectively.

NCB Bank: The exchange rate is listed at 157.01 VND/JPY (buy) and 165.29 VND/JPY (sell), with a decrease of 0.91 VND in the buy direction and an increase of 0.99 VND in the sell direction.

HSBC Bank: The buying price reached 157.61 VND/JPY and the selling price was 164.38 VND/JPY, recording a decrease of 1.11 VND and 1.17 VND in both directions.

According to the survey, Eximbank and Sacombank are leading in terms of the highest buying rate for Japanese Yen, while HSBC listed the lowest selling price among the monitored banks.

*Note: Cash buying and selling rates
Day	January 3 , 2025		Change from previous session
Bank	Buy	Sell	Buy	Sell
Vietcombank	156.09	165.17	-0.77	-0.95
VietinBank	158.08	167.78	-0.61	+1.34
BIDV	157.95	166.15	-1.04	-0.41
Agribank	157.90	165.31	-0.8	-0.87
Eximbank	159.61	165.47	-0.16	-0.38
Sacombank	159.32	166.36	-0.16	-0.13
Techcombank	155.42	167.88	-0.49	-0.53
NCB	157.01	165.29	-0.91	-0.91
HSBC	157.61	164.38	-1.11	-1.17

Japanese Yen exchange rate on January 3, 2025 in the international market

In the trading session on January 2, 2025, the USD/JPY exchange rate recorded a three-day consecutive decline, currently maintaining at around 156.20 USD/JPY. The main reason lies in the growth of the Japanese Yen's strength, thanks to expectations that the Bank of Japan (BoJ) is likely to adjust interest rates higher in January. This is driven by economic factors and fiscal policies that support the domestic currency's upward momentum.

One of the main reasons supporting the yen was positive inflation data from Tokyo. The consumer price index (CPI) rose 3.0% year-on-year in December 2024, up from 2.6% in November. Other CPI indicators also showed significant increases, reinforcing the view that inflation in Japan is above the BoJ's 2% target.

The data has fueled expectations that the BoJ will end its long-term monetary easing and shift to tightening. A rate hike, if implemented, would not only strengthen the yen but also attract more foreign investment due to the prospect of rising yields.

Meanwhile, the USD continued to be under pressure due to falling US Treasury yields. The 2-year and 10-year bond yields fell to 4.24% and 4.53%, respectively, reducing the greenback's appeal against the Yen. This prompted investors to shift to holding JPY.

The US Dollar Index (DXY), which measures the strength of the greenback against a basket of major currencies, edged lower around 108.00, reflecting a weakening greenback and adding further downward pressure to the USD/JPY pair.

The yen's appeal as a safe haven has been bolstered by uncertainty over global monetary policy. The yen, which is seen as a safe haven in times of uncertainty, has become more attractive as the BoJ looks set to raise interest rates.

In addition, the yield gap between Japanese and US bonds is narrowing, thanks to expectations of a BoJ policy tightening. Higher yields on US bonds have historically put downward pressure on the yen, but this is gradually changing, creating conditions for the yen to appreciate further.

Experts say that if the BoJ raises interest rates as expected, the Yen could maintain its upward trend in the coming time, pulling the USD/JPY exchange rate lower in the medium and long term. This also depends on the policy decisions from the BoJ in January and the response level of other central banks such as the US Federal Reserve (FED).

Overall, the Japanese Yen is showing an impressive recovery, while the USD continues to weaken, creating important changes in the international exchange rate landscape.

Source: https://baodaknong.vn/ty-gia-yen-nhat-ngay-3-1-2025-dong-yen-dong-loat-suy-yeu-238765.html