The Japanese Yen (JPY) is the official currency of Japan. It is one of the most widely traded currencies in the world and serves as a major reserve currency. The symbol for the yen is ¥, and it is subdivided into 100 sen, although sen is no longer commonly used. The yen is issued by the Bank of Japan, the country’s central bank, and it is characterized by its use in international transactions, as well as its importance in global financial markets. The value of the yen is influenced by various economic factors, including Japan’s economic performance, interest rates, and global market trends. It is often seen as a safe-haven currency during times of economic uncertainty.
Market Overview The Japanese yen is currently hovering around 154.80 against the dollar. During the trading session, it experienced a dip, dropping to 154.47, but the declines halted just shy…