Yen falls against strong dollar

Japanese Yen exchange rate on January 7, 2025 in the domestic market

Updated Japanese Yen exchange rate on the morning of January 7, 2025 at banks as follows:

Vietcombank : The Japanese Yen exchange rate here recorded a buying rate of 155.73 VND/JPY and a selling rate of 164.79 VND/JPY, down 0.47 VND in buying and 0.49 VND in selling respectively.

Vietinbank : The buying and selling rates of Japanese Yen are 158.04 VND/JPY and 165.79 VND/JPY, respectively.

BIDV Bank: Exchange rate decreased by 0.45 VND for buying and 0.51 VND for selling, currently at 156.94 VND/JPY and 165.04 VND/JPY, respectively.

Agribank: Buying and selling prices are 157.58 VND/JPY and 164.97 VND/JPY, down 0.62 VND and 0.67 VND compared to before.

Eximbank: The Japanese Yen price here decreased by 0.77 VND in buying and 1.03 VND in selling, currently reaching 158.28 VND/JPY and 163.81 VND/JPY.

Sacombank: Buying and selling rates decreased by 0.71 VND respectively, currently trading at 157.90 VND/JPY and 164.93 VND/JPY.

Techcombank: Japanese Yen price is at 154.17 VND/JPY for buying and 166.56 VND/JPY for selling, down 1.25 VND for buying and 1.32 VND for selling.

NCB Bank: Buying and selling rates are 156.71 VND/JPY and 164.98 VND/JPY respectively, down slightly by 0.48 VND in both directions.

HSBC Bank: The exchange rate is recorded at 157.37 VND/JPY for buying and 164.31 VND/JPY for selling, down 0.34 VND for buying and 0.29 VND for selling.

Conclusion: According to survey data from Dak Nong Newspaper, Eximbank and Sacombank currently have the highest Japanese Yen buying rate and the lowest selling rate among the surveyed banks.

*Note: Cash buying and selling rates
Day	January 7 , 2025		Change from previous session
Bank	Buy	Sell	Buy	Sell
Vietcombank	155.73	164.79	-0.47	-0.49
VietinBank	158.04	165.79	-	-
BIDV	156.94	165.04	-0.45	-0.51
Agribank	157.58	164.97	-0.62	-0.67
Eximbank	158.28	163.81	-0.77	-1.03
Sacombank	157.90	164.93	-0.71	-0.71
Techcombank	154.17	166.56	-1.25	-1.32
NCB	156.71	164.98	-0.48	-0.48
HSBC	157.37	164.31	-0.34	-0.29

Japanese Yen exchange rate on January 7, 2025 in the world market

In the international market, the Japanese Yen continued to face downward pressure in the trading session on Monday morning in Europe, as the market was unclear about the timing of the Bank of Japan (BoJ)'s next interest rate hike. At the same time, the increasing yield gap between the US and Japan and the "hawkish" signals from the US Federal Reserve (Fed) strengthened the USD, pushing the USD/JPY pair close to a multi-month high in December.

Investors are still waiting for an official signal from the BoJ on future interest rate hikes. However, with interest rates in Japan still low and US bond yields rising sharply due to the Fed's stance, the Yen is losing its appeal, causing money to shift to the USD, keeping the USD/JPY pair stable above 157.50.

The BoJ has recently expressed caution, saying that its interest rate policy decision will depend on indicators such as inflation, wages and other key economic factors. Although the Japan Services PMI showed a consecutive expansion in December, the figure was revised down to 50.9 from the initial forecast of 51.4.

Business conditions in Japan's service sector are improving, with the Services PMI showing a 15th consecutive month of increases in new orders and employment growth. At the same time, inflation in the service sector is also trending up, raising expectations that the BoJ may raise interest rates from 0.25% to 0.50% by March 2025.

However, BoJ Governor Kazuo Ueda has stressed that monetary policy adjustments will depend on the balance between wage and price growth. With the BoJ meeting scheduled for January 23-24, markets will be closely watching economic data in the meantime.

In the US, the Fed recently signaled that it would slow down its rate cuts in 2025, pushing up US government bond yields and strengthening the US dollar. San Francisco Fed President Mary Daly said that although inflationary pressures have eased over the past two years, current inflation is still well above the 2% target.

This week, important economic data from the US, including ISM Services PMI, JOLTS Job Openings, ADP report and Non-Farm Payrolls (NFP), will play a major role in influencing the USD/JPY exchange rate.

USD/JPY is currently trading above 157.50 and the daily chart oscillators suggest that the uptrend is still in control. The nearest resistance levels are 158.00, 158.45 and 159.00. A break above these levels could see USD/JPY advance towards the psychological 160.00 level and further to the 160.50 area, which corresponds to the upper end of a multi-month uptrend channel.

On the downside, the nearest support levels are at 157.00, followed by 156.65 and 156.00. If the price declines sharply, the 155.50 area could become a potential buying zone before hitting strong support at 155.00. A break of this level could see the short-term trend turn negative, creating opportunities for sellers.

Source: https://baodaknong.vn/ty-gia-yen-nhat-ngay-7-1-2025-dong-yen-giam-gia-so-voi-su-vung-manh-cua-dong-usd-239152.html