USD/JPY
USDJPY · Currency Pair
Last updated 5:46:46 AM ET
Overview
USDJPY — USD/JPY — trades publicly as a currency pair. The most recent price was 159.31, up 0.90% over the past 24 hours. Trading volume came in at 0.
- Ticker
- USDJPY
- Type
- Currency Pair
Historical Chart
USD/JPY price chart, 1M range. Current price 159.31. Up 0.90% over the selected range.
No chart data available for this range.
Key Statistics
Technical Indicators
Not available for this asset type.
What Is USD/JPY?
USD/JPY is the exchange rate between the U.S. dollar and the Japanese yen, and is one of the most liquid currency pairs globally, reflecting Japan's position as a major global exporter and the yen's role as a significant reserve and funding currency.
The pair is closely tied to the policy divergence between the Bank of Japan, which maintained ultra-low or negative interest rates for an extended period, and the U.S. Federal Reserve. That gap made the yen a popular funding currency for the "carry trade" — borrowing yen at low cost to invest in higher-yielding assets elsewhere — a strategy that can unwind rapidly and move USD/JPY sharply when risk sentiment shifts or the interest-rate gap narrows.
The yen has also traditionally been viewed as a safe-haven currency during periods of global market stress, with investors repatriating funds into yen-denominated assets — though the strength of that safe-haven behavior has varied depending on the specific policy backdrop at the time.
How USD/JPY Is Priced
USD/JPY is a currency pair, and its "price" is an exchange rate — how much of the second currency it takes to buy one unit of the first. That rate floats based on relative supply and demand for each currency, driven by factors like interest-rate differentials between the two countries' central banks, trade flows, and broader risk sentiment. Forex trades continuously across a decentralized global network of banks and brokers rather than a single exchange, so the quoted price is an aggregate of interbank rates.