JPY is appreciating: now that's news. Overview for 29.11.2023

The Japanese yen continues rising against the US dollar. The current USDJPY exchange rate stands at 147.08.

Two factors influence the yen's exchange rate: Japan's inflation and the behaviour of the US dollar. The price situation is somewhat balanced: while the CPI has risen, it remains unstable. The USD circumstances are rather productive for the yen: the dollar is weakening, allowing the JPY to relieve excess pressure.

Meanwhile, Japanese exporters make optimistic forecasts about the national currency. Companies are likely to beat profit expectations thanks to rapid increases in supply volumes and exchange rate differences, of course.

Japan's fiscal year ends in March 2024. The average exchange rate for business operations is 140.22 JPY per dollar. This is 5% higher than the average rate since the beginning of the fiscal year, surpassing the expectations of currency strategists.

This year, the TOPIX and Nikkei 225 stock indices have reached three-decade highs, driven by confident profit growth among exporters. The depreciation of the JPY exchange rate aided this.