The Japanese Yen falls to its lowest level against the US Dollar since 1986, with USD/JPY surpassing 162.00.
The Japanese Yen (JPY) slumped to a 40-year low against the US Dollar (USD) on Tuesday, pushing the USD/JPY pair above 162.00. The move marks the weakest level for the Yen since 1986, driven by broader USD strength and market positioning ahead of key economic data releases later in the day.
Earlier in the Asian session, USD/JPY climbed to its highest point in nearly four decades before retracing slightly. The pair regained momentum in European trading, last seen near 162.30. Economic data due later includes Germany’s preliminary June CPI, Canada’s April GDP, and US JOLTS job openings for May.
Japan’s Finance Minister Satsuki Katayama commented on the currency’s decline, though no immediate intervention was signaled. The USD remains the strongest major currency this week, with the Yen underperforming across the board.