Japanese Yen exchange rate today 5/2/2025: Continues to decrease sharply

Domestic Japanese Yen exchange rate today May 2, 2025:

VIB Bank is buying Japanese Yen cash at the lowest price of 167.74 VND/JPY

VIB Bank is buying Japanese Yen transfers at the lowest price of 169.14 VND/JPY

PVcomBank is buying Japanese Yen cash at the highest price of 184 VND/JPY

PVcomBank is buying Japanese Yen transfers at the highest price of 186 VND/JPY

VIB Bank is selling Japanese Yen cash at the lowest price of 175.80 VND/JPY

VIB Bank is selling Japanese Yen transfers at the lowest price of 174.80 VND/JPY

LPBank and OceanBank are selling Japanese Yen cash at the highest price of 189.88 VND/JPY.

ABBank is selling Japanese Yen transfers at the highest price of 188.09 VND/JPY

World Japanese Yen exchange rate today 5/2/2025:

The Japanese yen (JPY) continued to weaken, falling 0.9% against the US dollar (USD), becoming the worst-performing currency among the G10 after the Bank of Japan (BoJ)'s latest policy meeting.

The market reaction was driven by the BoJ keeping its target interest rate at 0.50% as expected, while lowering its growth and inflation forecasts, extending the expected time to reach the 2% inflation target, according to Shaun Osborne, head of FX strategy at Scotiabank.

In a press conference, BoJ Governor Kazuo Ueda did not give a clear roadmap for the next rate hike and highlighted the uncertainty stemming from US tariff policies.

The developments are taking place alongside the second round of trade talks between the US and Japan, which are expected to last until the end of the week.

In the currency market, the USD/JPY pair is extending its recovery from the 140 support zone and approaching the 145 mark. Experts assess the short-term resistance level to be around 147.50, while a more important resistance zone may appear around the 200-day moving average, near the 150 mark.

The yen's next move will depend largely on upcoming monetary policy and the outcome of bilateral trade talks.