According to Scotiabank's Head of FX Strategy Shaun Osborne, this was mainly due to weaker-than-expected economic data, particularly industrial production and retail sales.
The Japanese yen remained under pressure in European trading on Wednesday as demand for safe-haven assets declined amid signs of easing US-China trade tensions. In addition, US President Donald Trump announced a policy to support US automakers by reducing import tariffs on foreign components, further bolstering the market sentiment.
Meanwhile, Japan’s domestic economic data was less positive. Specifically, industrial production in March fell 1.1%, while retail sales rose only 3.1% compared to the same period last year, lower than expected. These factors continued to put pressure on the Yen.
However, the possibility of further declines in the yen remains limited, with many traders staying on the sidelines as they await a policy decision from the Bank of Japan (BoJ), due on Thursday.
Analysts expect the BoJ to keep interest rates unchanged to avoid adding risks to an economy already suffering from US tax policy.
Still, some signs of inflation and significant wage increases proposed by Japan’s big companies this year could prompt the BoJ to continue normalizing monetary policy in the coming period. This creates a contrast to expectations of easing from the US Federal Reserve, which could help the yen hold its ground amid volatile markets.
The Japanese Yen (JPY) exchange rate at banks today for cash buying, the bank with the highest price is PVcomBank with 184.00 VND/JPY.
VIB continues to be the bank with the lowest buying price in both cash and transfer forms, at 167.74 VND/JPY and 169.14 VND/JPY, respectively.
On the selling side, the highest price belongs to PVcomBank with 188.00 VND/JPY via transfer, while LPBank and OceanBank have the lowest cash selling price of 189.88 VND.
Source: https://baonghean.vn/ty-gia-yen-nhat-hom-nay-1-5-2025-tiep-tuc-suy-giam-10296313.html
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