The yen has fallen to its weakest level against the dollar in four decades, driven by the persistent interest rate gap between Japan and other major economies. This fuels the carry trade, where investors borrow cheaply in yen and invest elsewhere. While the weak yen boosts exporters and Japan's stock market, it hurts consumers through higher import costs. The government has spent $72 billion on intervention with only temporary effect, and markets await further action.
implicit
implicit
Oil
Metals
explicit
JPY sharp down
Bloomberg
7.0
Financial Media
Mia Glass 4.0
Financial Media
Mia Glass 4.0
USD/JPY; DXY
6/30/2026 3:42:46 PM
dxy
The yen just hit its weakest level against the dollar in four decades. The currency slid past 162, a level not seen since 1986.
| 6/23/2026 2:24:01 PM | short term up | 5 days later | -0.48% | -0.48% |
| 6/23/2026 9:47:02 AM | short term up | 5 days later | -0.48% | -0.48% |
| 6/23/2026 9:05:49 AM | short term up | 5 days later | -0.48% | -0.48% |
| 6/22/2026 11:26:07 PM | short term up | 6 days later | -0.28% | -0.28% |
| 6/22/2026 2:31:49 PM | short term up | 6 days later | -0.28% | -0.28% |
| 6/19/2026 6:22:05 AM | short term up | 7 days later | +0.10% | +0.10% |
| 6/18/2026 10:05:22 AM | short term up | 5 days later | +0.75% | +0.75% |
| 6/17/2026 10:47:56 AM | short term cautious down | 5 days later | +0.56% | -0.28% |
| 6/15/2026 6:39:51 AM | short term down | 6 days later | +1.49% | -1.49% |
| 6/15/2026 6:06:57 AM | short term down | 6 days later | +1.49% | -1.49% |
| 6/11/2026 7:18:14 AM | short term up | 5 days later | +0.34% | +0.34% |
| 6/4/2026 5:20:52 AM | short term up | 5 days later | -0.12% | -0.12% |
| 6/1/2026 9:55:28 AM | short term cautious up | 6 days later | +0.84% | +0.42% |
| 5/29/2026 1:15:10 PM | short term cautious down | 7 days later | +0.86% | -0.43% |
| 5/29/2026 12:40:23 PM | medium term down | 21 days later | +1.83% | -1.83% |
| 5/29/2026 10:33:35 AM | medium term down | 21 days later | +1.83% | -1.83% |
| 5/28/2026 7:57:05 AM | short term up | 5 days later | +0.63% | +0.63% |
| 5/26/2026 7:28:47 AM | short term cautious down | 5 days later | -0.04% | +0.02% |
| 5/25/2026 9:42:20 AM | short term down | 6 days later | -0.04% | +0.04% |
| 5/25/2026 9:42:20 AM | short term down | 6 days later | -0.04% | +0.04% |
| 5/22/2026 9:17:41 PM | short term sharp down | 5 days later | -0.41% | +0.62% |
| 5/15/2026 10:06:02 AM | short term up | 6 days later | +0.35% | +0.35% |
| 5/15/2026 7:54:32 AM | short term up | 6 days later | +0.35% | +0.35% |
| 5/14/2026 8:54:29 AM | medium term down | 20 days later | +0.14% | -0.14% |
| 5/11/2026 2:37:40 PM | short term up | 6 days later | +0.69% | +0.69% |
| 5/7/2026 11:14:07 AM | short term down | 5 days later | +0.65% | -0.65% |
| 5/7/2026 10:02:35 AM | short term cautious down | 5 days later | +0.65% | -0.33% |
| 5/7/2026 10:02:35 AM | medium term cautious down | 20 days later | +1.21% | -0.60% |
| 5/7/2026 9:41:16 AM | short term down | 5 days later | +0.65% | -0.65% |
| 5/6/2026 7:07:04 AM | short term cautious down | 5 days later | +0.04% | -0.02% |
| 4/30/2026 8:02:59 AM | short term up | 5 days later | -0.19% | -0.19% |
| 4/23/2026 1:31:31 PM | medium term up | 20 days later | +0.38% | +0.38% |
| 4/22/2026 7:34:33 AM | short term cautious down | 5 days later | -0.18% | +0.09% |
| 4/2/2026 10:09:57 AM | short term up | 5 days later | -1.05% | -1.05% |
| 4/1/2026 10:17:51 AM | short term up | 5 days later | -0.39% | -0.39% |
| 3/27/2026 11:59:23 AM | short term sharp up | 7 days later | -0.53% | -0.79% |
| 3/23/2026 9:48:17 AM | medium term sharp up | 20 days later | -1.07% | -1.60% |
| 3/23/2026 7:21:12 AM | short term up | 6 days later | +1.09% | +1.09% |
| 3/9/2026 2:08:40 PM | short term up | 6 days later | +0.89% | +0.89% |
| 3/9/2026 8:28:21 AM | short term up | 6 days later | +0.89% | +0.89% |
| 3/6/2026 10:25:51 AM | short term up | 5 days later | +1.52% | +1.52% |
| 2/23/2026 2:15:21 PM | short term down | 6 days later | +0.51% | -0.51% |
| 2/13/2026 9:47:08 AM | short term down | 7 days later | +0.62% | -0.62% |
| 2/11/2026 10:51:35 AM | short term cautious down | 5 days later | +0.24% | -0.12% |
| 2/6/2026 5:34:10 AM | short term up | 7 days later | +0.28% | +0.28% |
| 1/29/2026 9:02:44 PM | medium term cautious down | 20 days later | +0.97% | -0.48% |
| 1/29/2026 9:23:52 AM | short term down | 5 days later | +0.65% | -0.65% |
| 1/29/2026 9:18:07 AM | medium term cautious down | 20 days later | +0.97% | -0.48% |
| 1/29/2026 9:02:17 AM | medium term cautious down | 20 days later | +0.97% | -0.48% |
| 1/28/2026 7:33:33 AM | short term down | 5 days later | +1.20% | -1.20% |
| 1/28/2026 1:08:47 AM | short term sharp down | 5 days later | +1.20% | -1.81% |
| 1/27/2026 11:03:03 PM | short term down | 5 days later | +1.20% | -1.20% |
| 1/26/2026 4:46:43 AM | short term down | 6 days later | +1.44% | -1.44% |
| 1/20/2026 6:00:07 PM | short term down | 5 days later | -1.74% | +1.74% |
| 1/20/2026 5:25:20 AM | short term down | 5 days later | -1.74% | +1.74% |
| 1/14/2026 6:48:56 AM | medium term down | 20 days later | -1.71% | +1.71% |
| 1/12/2026 3:24:56 PM | short term down | 6 days later | +0.27% | -0.27% |
| 1/12/2026 2:06:59 PM | short term down | 6 days later | +0.27% | -0.27% |
| 12/23/2025 10:14:37 AM | medium term up | 20 days later | +1.17% | +1.17% |
| 12/11/2025 6:13:10 AM | short term cautious down | 5 days later | -0.03% | +0.02% |
| 12/4/2025 6:49:20 PM | short term cautious down | 5 days later | -0.20% | +0.10% |
| 12/1/2025 5:28:31 AM | medium term cautious down | 20 days later | -1.08% | +0.54% |
| 11/4/2025 12:00:38 PM | long term up | 61 days later | -1.93% | -1.93% |
| 10/17/2025 10:27:37 AM | short term down | 5 days later | +0.43% | -0.43% |
| 10/1/2025 10:52:02 AM | short term cautious down | 5 days later | +0.75% | -0.37% |
| 10/1/2025 8:12:58 AM | short term down | 5 days later | +0.75% | -0.75% |
| 10/1/2025 8:12:58 AM | medium term down | 20 days later | +1.07% | -1.07% |
| 9/30/2025 7:44:54 AM | short term cautious down | 5 days later | +0.41% | -0.20% |
| 9/25/2025 1:14:48 PM | short term up | 5 days later | -0.45% | -0.45% |
| 9/17/2025 10:11:21 AM | short term cautious down | 5 days later | -0.09% | +0.05% |
| 9/17/2025 8:33:28 AM | short term cautious down | 5 days later | -0.09% | +0.05% |
| 9/5/2025 10:16:54 AM | short term down | 7 days later | -0.15% | +0.15% |
| 8/26/2025 8:35:09 AM | short term down | 6 days later | +0.17% | -0.17% |
| 8/1/2025 2:29:07 PM | short term up | 7 days later | -0.26% | -0.26% |
| 8/1/2025 12:29:01 PM | short term up | 7 days later | -0.26% | -0.26% |
ndx
The yen's weakness is boosting exporter profits and helping the nation's stock market reach record highs. This suggests a positive near-term outlook for Japanese equities, which may have indirect positive sentiment for global tech/NDX via trade and supply chain links.
rut
No direct mention of US small caps. The focus is entirely on Japan's currency and its domestic market dynamics. RUT is likely to be unaffected in the short term by yen-specific factors.
yields
The persistent interest rate gap between Japan's ultra-low rates and higher US rates is the core driver of yen weakness. This implies continued upward pressure on US yields relative to Japan, as the carry trade remains attractive.
