Select Language

Forex Today: Japanese Yen slides, Gold climbs above $3,900

Breaking news

Forex Today: Japanese Yen slides, Gold climbs above $3,900

  • X
  • facebook
  • LINE
  • RSS

  • X
  • facebook
  • LINE
  • RSS
New update 2025.10.06 16:40
Forex Today: Japanese Yen slides, Gold climbs above $3,900

update 2025.10.06 16:40

Here is what you need to know on Monday, October 6:

The Japanese Yen (JPY) starts the week under strong selling pressure and Gold trades at a new record high above $3,900. The European economic calendar will feature Sentix Investor Confidence data for September and Retail Sales figures for August. Later in the day, comments from policymakers of major central banks will be watched closely by investors.

Japanese Yen Price Last 7 Days

The table below shows the percentage change of Japanese Yen (JPY) against listed major currencies last 7 days. Japanese Yen was the weakest against the Australian Dollar.

USD EUR GBP JPY CAD AUD NZD CHF
USD -0.04% -0.44% 0.41% 0.06% -0.99% -0.83% -0.07%
EUR 0.04% -0.40% 0.28% 0.09% -0.94% -0.80% -0.04%
GBP 0.44% 0.40% 0.81% 0.50% -0.60% -0.39% 0.37%
JPY -0.41% -0.28% -0.81% -0.31% -1.36% -1.35% -0.43%
CAD -0.06% -0.09% -0.50% 0.31% -1.01% -0.89% -0.13%
AUD 0.99% 0.94% 0.60% 1.36% 1.01% 0.15% 0.94%
NZD 0.83% 0.80% 0.39% 1.35% 0.89% -0.15% 0.91%
CHF 0.07% 0.04% -0.37% 0.43% 0.13% -0.94% -0.91%

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).

USD/JPY opened with a big bullish gap as markets reacted to Sanae Takaichi's, who is known to be a fiscal dove that could oppose further monetary tightening by the Bank of Japan (BoJ), win in the leadership race of Japan's ruling Liberal Democratic Party (LDP). Takaichi would become the first female Prime Minister of Japan and is expected to oppose any further monetary tightening by the Bank of Japan (BoJ). Reuters reported that Takuji Aida, one of Takaichi's closest advisers on economic policy, said that Takaichi could likely tolerate another 25 basis-points interest rate hike by January next year if the economy is in firm shape. At the time of press, USD/JPY was trading at its highest level since early August above 150.00, rising more than 1.5% on the day. Reflecting the broad-based JPY weakness, EUR/JPY was last seen rising 1.3% at 175.45, while GBP/JPY was up 1.45% at 201.67.

In the meantime, the US government remains shut and there are no developments that suggests that the Senate is in a hurry to break the deadlock. Over the weekend, White House National Economic Council Director, Kevin Hassett, said that if President Donald Trump decided that negotiations are "absolutely going nowhere," they will start laying people off. Nevertheless, the US Dollar (USD) Index rebounds on Monday and clings to gains above 98.00 in the European session.

Gold gathers bullish momentum at the beginning of the week and trades at a new record-high above $3,900, as it continues to attract buyers amid the uncertainty surrounding the US economic outlook. Israel and Hamas are expected to begin direct talks in Egypt on Monday to find a middle ground to implement Trump's proposed peace plan.

EUR/USD edges lower in the European morning on Monday and trades near 1.1700. European Central Bank (ECB) President Christine Lagarde will deliver a statement before the Committee on Economic and Monetary Affairs of the European Parliament later in the day.

After ending the previous week in positive territory, GBP/USD struggles to hold its ground and retreats to the 1.3450 area on Monday. Bank of England (BoE) Governor Andrew Bailey will speak at Scotland's Global Investment Summit 2025 in Edinburgh, Scotland.

Japanese Yen FAQs

The Japanese Yen (JPY) is one of the world's most traded currencies. Its value is broadly determined by the performance of the Japanese economy, but more specifically by the Bank of Japan's policy, the differential between Japanese and US bond yields, or risk sentiment among traders, among other factors.

One of the Bank of Japan's mandates is currency control, so its moves are key for the Yen. The BoJ has directly intervened in currency markets sometimes, generally to lower the value of the Yen, although it refrains from doing it often due to political concerns of its main trading partners. The BoJ ultra-loose monetary policy between 2013 and 2024 caused the Yen to depreciate against its main currency peers due to an increasing policy divergence between the Bank of Japan and other main central banks. More recently, the gradually unwinding of this ultra-loose policy has given some support to the Yen.

Over the last decade, the BoJ's stance of sticking to ultra-loose monetary policy has led to a widening policy divergence with other central banks, particularly with the US Federal Reserve. This supported a widening of the differential between the 10-year US and Japanese bonds, which favored the US Dollar against the Japanese Yen. The BoJ decision in 2024 to gradually abandon the ultra-loose policy, coupled with interest-rate cuts in other major central banks, is narrowing this differential.

The Japanese Yen is often seen as a safe-haven investment. This means that in times of market stress, investors are more likely to put their money in the Japanese currency due to its supposed reliability and stability. Turbulent times are likely to strengthen the Yen's value against other currencies seen as more risky to invest in.


Date

Created

 : 2025.10.06

Update

Last updated

 : 2025.10.06

Related articles


Show more

FXStreet

Financial media

arrow
FXStreet

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.

Was this article helpful?

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].

Thank you for your feedback.
Thank you for your feedback.

Most viewed

FX option expiries for Oct 28 NY cut

FX option expiries for Oct 28 NY cut at 10:00 Eastern Time via DTCC can be found below.
New
update2025.10.28 15:23

AUD/JPY Price Forecast: Crucial upside barrier emerges near 100.00

The AUD/JPY cross slumps to around 99.55 during the early European session on Tuesday.
New
update2025.10.28 15:06

US Dollar Index Price Forecast: Tests lower ascending channel boundary around 98.50

The US Dollar Index (DXY), which measures the value of the US Dollar (USD) against six major currencies, is extending its losses for the second consecutive day and trading around 98.60 during the Asian hours on Tuesday.
New
update2025.10.28 14:30

GBP/JPY slides below 203.00 as JPY gains strong traction on intervention speculation

The GBP/JPY cross attracts some selling during the Asian session on Tuesday and for now, seems to have snapped a three-day winning streak to the 204.25 region, or a nearly three-week high touched the previous day.
New
update2025.10.28 14:27

GBP/USD gathers strength above 1.3350 on Fed rate cut hopes

The GBP/USD pair gains ground to near 1.3365 during the early European session on Tuesday. The US Dollar (USD) weakens against the Pound Sterling (GBP) amid the expectation that the Federal Reserve (Fed) will cut interest rates in the monetary policy announcement on Wednesday.
New
update2025.10.28 14:16

EUR/USD extends winning streak as US Dollar falls further ahead of Fed's monetary policy

The EUR/USD extends its winning streak for the fifth trading day on Tuesday. The major currency pair posts a fresh weekly high near 1.1670 as the US Dollar (USD) underperforms its peers ahead of the monetary policy announcement by the Federal Reserve (Fed) on Wednesday.
New
update2025.10.28 14:11

USD/INR rises further Indian Rupee weakens on rising oil price

The Indian Rupee (INR) extends its downside against the US Dollar (USD) at open on Tuesday. The USD/INR jumps to near 88.60 as the Indian Rupee underperforms due to a recovery move in the Oil price seen in the past week.
New
update2025.10.28 13:42

USD/CHF holds losses below 0.7950 due to diminished odds of SNB's policy easing

USD/CHF loses ground for the fourth successive session, trading around 0.7940 during the Asian hours on Tuesday. The pair faces challenges as the Swiss Franc (CHF) strengthened on decreasing expectations of further policy easing by the Swiss National Bank (SNB).
New
update2025.10.28 13:40

India Gold price today: Gold falls, according to FXStreet data

Gold prices fell in India on Tuesday, according to data compiled by FXStreet.
New
update2025.10.28 13:35

NZD/USD climbs to three-week high, eyes 0.5800 amid trade optimism and softer USD

The NZD/USD pair prolongs its recent recovery move from the 0.5685-0.5680 region, or the lowest level since April, touched last week, and climbs to a nearly three-week high during the Asian session on Tuesday.
New
update2025.10.28 13:26

Disclaimer:arw

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.

  • Facebook
  • Twitter
  • LINE

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

I agree
share
Share
Cancel