JPY/USD in 2015
JPY/USD opened 2015 at 120.2 and closed at 120.27, a +0.06% move for the year. The high of 125.58 was reached on June 5, and the low of 116.78 on January 14.
Monthly Breakdown
| Month | Open | Close | High | Low | Change |
|---|---|---|---|---|---|
| Jan | 120.2 | 117.44 | 120.2 | 116.78 | -2.30% |
| Feb | 117.33 | 119.72 | 120.38 | 117.33 | +2.04% |
| Mar | 120.06 | 119.96 | 121.5 | 119.01 | -0.08% |
| Apr | 119.62 | 119.86 | 120.36 | 118.8 | +0.20% |
| May | 120.21 | 123.98 | 124.18 | 119.09 | +3.14% |
| Jun | 124.64 | 122.1 | 125.58 | 122.1 | -2.04% |
| Jul | 123.02 | 123.94 | 124.38 | 120.54 | +0.75% |
| Aug | 123.98 | 121.26 | 124.9 | 118.56 | -2.19% |
| Sep | 119.94 | 119.81 | 120.94 | 119.05 | -0.11% |
| Oct | 119.58 | 120.7 | 121.2 | 118.26 | +0.94% |
| Nov | 120.7 | 123.22 | 123.51 | 120.7 | +2.09% |
| Dec | 122.88 | 120.27 | 123.52 | 120.27 | -2.12% |
Events During 2015
The PBoC devalued the yuan by 1.9% in a single day on August 11, 2015, the first meaningful devaluation since 1994. Global risk assets convulsed.
Brent crude fell from $115 in June 2014 to $27 in January 2016, a 77% collapse. Shale oversupply and OPEC's refusal to cut production broke the commodity supercycle that had dominated markets since 2003.
The Swiss National Bank abandoned its 1.20 EUR/CHF floor on January 15, 2015. The franc immediately surged 30%, blowing up retail FX brokers and exposing the fragility of exchange rate commitments.
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