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Japanese Yen exchange rate today May 8: Very strong decrease

Quoc Duong May 8, 2025 04:30

Japanese Yen exchange rate today May 8, 2025: Japanese Yen fell sharply after news that the US and China will resume trade negotiations this week in Switzerland.

JPY/USD exchange rate today 5/8/2025

The JPY/USD pair fell sharply to near 0.698 JPY/USD, ending a three-session winning streak. The recovery was mainly due to a broad-based weakening of the Japanese yen (JPY), as its safe-haven appeal faded following news that the US and China would resume trade talks this week in Switzerland.

US Treasury Secretary Scott Bessent and Trade Representative Jamieson Greer have confirmed they will meet with Chinese officials to discuss economic and trade issues.

According to Mr. Bessent, these are discussions aimed at reducing trade tensions, not negotiating a grand deal. The market received the news positively, thinking that this is a signal that both sides are looking to end the long-standing trade war.

The Japanese yen has been seen as an attractive safe haven asset in recent weeks due to concerns about global instability, especially the uncertain outlook for US-China relations. However, with new signs of easing tensions, buying demand for JPY has cooled down.

In the domestic Japanese market, investors do not expect the Bank of Japan (BoJ) to raise interest rates soon, as the global economy remains uncertain under the influence of unpredictable trade policies from the Trump administration.

Meanwhile, the US dollar remained in a narrow range around 99.40 ahead of the US Federal Reserve's monetary policy announcement, scheduled to take place at 6:00 p.m. US time.

According to the CME FedWatch tool, the market has fully priced in the possibility that the Fed will keep interest rates unchanged in the range of 4.25% - 4.50%.

What investors are waiting for is a signal of the Fed’s policy direction for the rest of the year. The Fed faces a difficult choice: either maintain interest rates long enough to wait for more clarity on the economic outlook, or act prematurely while the impact of President Trump’s new policies is still unclear.

Tỷ giá Yen Nhật hôm nay 8/5: Giảm rất mạnh

Domestic Japanese Yen exchange rate today May 8, 2025

The Japanese Yen buying and selling rates at the State Bank's exchange office decreased slightly, currently at: 166 VND - 183 VND.

Japanese Yen Exchange Rate
Buy
Sell ​​out
Vietcombank
174.79 VND
185.90 VND
Vietinbank
175.17 VND
184.87 VND
BIDV
177.92 VND
186.25 VND

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Japanese Yen exchange rate today May 8: Very strong decrease
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