The yen finally said “enough.” After six weeks of relentless strength, the dollar topped out against the yen on Wednesday at 163.98 — just two pips shy of 164 — and sellers stepped in hard. USD/JPY has since pulled back to around 160.2, and the speed of the reversal has everyone asking the same question: […]
162.6. That’s where USD/JPY closed on Wednesday, and I had to double-check the screen because the last time we were here, the conversation was all about intervention. The pair has rallied almost without pause since mid-June, climbing from 159.6 to its highest level of 2026. The engine is the same one that’s driven every big […]
USD/JPY closed Tuesday at 161.79 — the highest finish of 2026 — and the distance between what Japan wants and what Japan can do has never looked wider. The problem in one paragraph Japan’s economy needs a weaker yen to keep exports competitive and inflation positive. But at 161, the currency’s decline is feeding import […]
USD/JPY is back above 159, and the reason is as old as the hills: yield differentials. The pair has been climbing for three straight weeks — from 156.85 in early May to 159.3 by Thursday — and the pattern is familiar to anyone who traded the yen over the past two years. When the gap […]