Company: FXY
Filing Date: 2025-02-26
Form Type: 10-K
Source: 0000950170-25-027263
Chunk: 63

Company: Invesco CurrencyShares Japanese Yen Trust
Filing Date: 2025-02-26
Form: 10-K
Item: Item 7
Chunk 63
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 pair did recover significantly in the fourth quarter, much of it was a factor of the weakening U.S. dollar.

Additionally, the interest rate paid by the Depository has generally trended upward over the past year to the current interest rate of 0.00%, as set forth in the FXY Rate Chart above. As long as the Sponsor’s fee and the interest expense on currency deposits, if any, exceed interest income, the Trust will incur a net comprehensive loss.

Critical Accounting Estimates 

The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America requires the Sponsor’s management to make estimates and assumptions that affect the reported amounts of the assets and liabilities and disclosures of contingent liabilities at the date of the financial statements and the reported amounts of revenue and expenses during the period covered by this report. 

In addition to the description below, please refer to Note 3 to the financial statements for further discussion of our accounting policies. 

The functional currency of the Trust is the Japanese Yen in accordance with ASC 830, Foreign Currency Translation.