The Japanese Yen was little moved at 3-month lows of 104.723 against the US Dollar on Monday. Sentiment in the Yen weakened as the Japanese government is set to extend Tuesday the state of emergency for regions still struggling with a high number of coronavirus infections, with the emergency period in prefectures including the Tokyo area expected to run for another month. Investors also continued monitoring US fiscal stimulus negotiations as Democrats in Congress prepared to push ahead with President Joe Biden's plan this week. In local data, the au Jibun Bank Japan Manufacturing PMI was revised higher to 49.8 in January, the highest PMI reading since May 2019, pointing to a stabilization in operating condition.
Historically, the Japanese Yen reached an all time high of 358.44 in January of 1971. Japanese Yen - data, forecasts, historical chart - was last updated on February of 2021.
The Japanese Yen is expected to trade at 105.11 by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate it to trade at 106.44 in 12 months time.