Created
: 2025.08.23
2025.08.23 00:06
The Japanese Yen (JPY) advanced strongly against the US Dollar (USD) on Friday, with USD/JPY retreating from an intraday high of 148.78 to trade near 146.66, down almost 1% on the day. The pullback marks a reversal from the pair's strongest level in three weeks, as investors unwound US Dollar positions following Federal Reserve (Fed) Chair Jerome Powell's cautious remarks at the Jackson Hole Symposium.
Powell's address at Jackson Hole fueled speculation that the Fed is preparing to recalibrate monetary policy, as he acknowledged rising downside risks to employment and flagged uncertainty from higher tariffs. While he avoided committing to a September move, his balanced tone prompted markets to push rate cut expectations sharply higher, sending Treasury yields lower and triggering a broad US Dollar selloff.
The shift in expectations was reflected in the CME FedWatch Tool, which now shows a 90% probability of a 25 basis point rate cut in September, up from around 70% earlier in the day.
The repricing sparked heavy US Dollar selling, with the US Dollar Index (DXY), which measures the Greenback against a basket of six major currencies, retreating from a two-week high of 98.83. At the time of writing, the index is trading near 97.75, erasing all the gains registered earlier this week.
The table below shows the percentage change of Japanese Yen (JPY) against listed major currencies today. Japanese Yen was the strongest against the US Dollar.
USD | EUR | GBP | JPY | CAD | AUD | NZD | CHF | |
---|---|---|---|---|---|---|---|---|
USD | -0.95% | -0.86% | -1.01% | -0.54% | -1.06% | -0.87% | -0.83% | |
EUR | 0.95% | 0.11% | -0.07% | 0.45% | -0.17% | 0.09% | 0.15% | |
GBP | 0.86% | -0.11% | -0.20% | 0.31% | -0.28% | -0.01% | 0.02% | |
JPY | 1.01% | 0.07% | 0.20% | 0.47% | -0.05% | 0.08% | 0.14% | |
CAD | 0.54% | -0.45% | -0.31% | -0.47% | -0.58% | -0.33% | -0.29% | |
AUD | 1.06% | 0.17% | 0.28% | 0.05% | 0.58% | 0.26% | 0.30% | |
NZD | 0.87% | -0.09% | 0.01% | -0.08% | 0.33% | -0.26% | 0.04% | |
CHF | 0.83% | -0.15% | -0.02% | -0.14% | 0.29% | -0.30% | -0.04% |
The heat map shows percentage changes of major currencies against each other. The base currency is picked from the left column, while the quote currency is picked from the top row. For example, if you pick the Japanese Yen from the left column and move along the horizontal line to the US Dollar, the percentage change displayed in the box will represent JPY (base)/USD (quote).
Created
: 2025.08.23
Last updated
: 2025.08.23
FXStreet is a forex information website, delivering market analysis and news articles 24/7.
It features a number of articles contributed by well-known analysts, in addition to the ones by its editorial team.
Founded in 2000 by Francesc Riverola, a Spanish economist, it has grown to become a world-renowned information website.
We hope you find this article useful. Any comments or suggestions will be greatly appreciated.
We are also looking for writers with extensive experience in forex and crypto to join us.
please contact us at [email protected].
Disclaimer:
All information and content provided on this website is provided for informational purposes only and is not intended to solicit any investment. Although all efforts are made in order to ensure that the information is correct, no guarantee is provided for the accuracy of any content on this website. Any decision made shall be the responsibility of the investor and Myforex does not take any responsibility whatsoever regarding the use of any information provided herein.
The content provided on this website belongs to Myforex and, where stated, the relevant licensors. All rights are reserved by Myforex and the relevant licensors, and no content of this website, whether in full or in part, shall be copied or displayed elsewhere without the explicit written permission of the relevant copyright holder. If you wish to use any part of the content provided on this website, please ensure that you contact Myforex.
Myforex uses cookies to improve the convenience and functionality of this website. This website may include cookies not only by us but also by third parties (advertisers, log analysts, etc.) for the purpose of tracking the activities of users. Cookie policy