USD/JPY: what to know
The USD/JPY rate shows how much JPY you get for 1 USD. Right now, 1 USD buys 156.2630 JPY at the mid-market rate. In the other direction, 1 JPY is worth 0.006399 USD.
In the short term USD is driven mainly by Fed policy, US growth and global risk appetite, while JPY responds to Bank of Japan policy and global risk appetite.
The US Dollar (USD) is issued by Federal Reserve (Fed). Most of the world’s central-bank reserves are held in US dollars. The Japanese Yen (JPY) is issued by Bank of Japan. “Yen” literally means “round object”.
Over the past 12 months the USD/JPY rate has ranged between 146.3900 and 163.8681 — a change of +5.18% 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.