Definition
The price of one currency in terms of another.
The story
On the morning of Nov 4, 2026, one US dollar bought 158.12 Japanese yen and one euro cost $1.133, per Reuters. If the dollar later buys 160 yen, the dollar has strengthened against the yen; if it buys 155, it has weakened.
Why markets watch it
Exchange rates affect what imports cost, what US companies earn overseas, and the price of dollar-priced assets like gold and oil.
Connects to
We explain why it moves markets. What you do with it is your call. Commentary and education only. Not financial advice. All terms