JPY/USD: what to know
The JPY/USD rate shows how much USD you get for 1 JPY. Right now, 1 JPY buys 0.006399 USD at the mid-market rate. In the other direction, 1 USD is worth 156.2720 JPY.
In the short term JPY is driven mainly by Bank of Japan policy and global risk appetite, while USD responds to Fed policy, US growth and global risk appetite.
The Japanese Yen (JPY) is issued by Bank of Japan. “Yen” literally means “round object”. The US Dollar (USD) is issued by Federal Reserve (Fed). Most of the world’s central-bank reserves are held in US dollars.
Over the past 12 months the JPY/USD rate has ranged between 0.006102 and 0.006831 — a change of -4.92% versus a year ago.
Use this mid-market figure as your benchmark: compare it with the rate your bank or broker quotes, and the difference is the margin you would pay.