JAPANESE YEN (YEN ¥ PER US $1)
Release Date: Intraday Rates
Release Coverage: Month-End
Released By: Federal Reserve
Official Release (weekly): http://www.federalreserve.gov/releases/h10/Update/
Dr. Ed's Economic Chart displays the exchange rate for amount of yen (¥) per per one U.S. dollar ($). The yen is considered one of the top currencies traded and the USD/JPY is considered one of the most commonly traded pairs. It is also widely used as a reserve currency after the U.S. dollar, the euro and the pound sterling. Value of the currency is determined by the exchange markets.
WHAT DR. ED SAYS:
The value of the yen most closely affects those banks that frequently deal in exchanges with Japan. The changing relationship between the yen and dollar may also affect the bottom line of certain business customers who are involved in importing and exporting or trading in foreign exchange markets.