USD to JPY Exchange Rate
LIVEUS Dollar to Japanese Yen
Currency Converter
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Exchange rate: 1 USD = 149.50 JPY (approximate)
About USD/JPY
The USD/JPY currency pair represents the exchange rate between the US Dollar and the Japanese Yen. Known as "the Gopher," it is one of the most traded forex pairs globally. The pair is heavily influenced by interest rate differentials between the Federal Reserve and Bank of Japan, US-Japan trade relations, risk sentiment, and carry trade dynamics. When markets are volatile, JPY typically strengthens as investors seek safety, while USD/JPY rises during periods of risk appetite and higher US yields.
Quick Facts
Currency Pair:
USD/JPY
Base Currency:
US Dollar (USD)
Quote Currency:
Japanese Yen (JPY)
Central Bank:
Bank of Japan
Trading Hours:
24/5 (Forex Market)
Frequently Asked Questions
What is a yen carry trade?
Investors borrow in the low-yielding Japanese Yen and invest the proceeds in higher-yielding currencies or assets, aiming to profit from the interest rate difference. Such positions can unwind quickly when conditions change.
Why is USD/JPY sensitive to interest rates?
The gap between US Federal Reserve and Bank of Japan policy rates is a major driver. When US yields rise relative to Japanese yields, the dollar tends to strengthen against the yen, lifting USD/JPY.
Why is the yen seen as a safe haven?
Japan's large net foreign asset position and the yen's deep, liquid markets lead investors to buy it during global turmoil, which can push USD/JPY lower in risk-off periods.