Ruth Carson explains the yen's slide to a 40-year low against the dollar is driven by grinding higher, not a plunge, making intervention less likely despite high alert. Dollar dominance is reinforced by haven and petro-dollar bids, with no alternative currency. Kevin Warsh's hawkish stance adds to dollar strength. The key is rate differentials between Japan and the US.
implicit
NDX
RUT
Oil
Metals
explicit
USD/JPY sharp up
Bloomberg
7.0
Financial Media
Ruth 4.0
Financial Media
Ruth 4.0
WTI; Brent
6/30/2026 10:11:07 AM
dxy
The dollar is up against every major currency in the world over the past two weeks. It's a dollar dominance problem.
| 6/23/2026 2:24:01 PM | short term up | 5 days later | -0.49% | -0.49% |
| 6/23/2026 9:47:02 AM | short term up | 5 days later | -0.49% | -0.49% |
| 6/23/2026 9:05:49 AM | short term up | 5 days later | -0.49% | -0.49% |
| 6/22/2026 11:26:07 PM | short term up | 6 days later | -0.30% | -0.30% |
| 6/22/2026 2:31:49 PM | short term up | 6 days later | -0.30% | -0.30% |
| 6/19/2026 6:22:05 AM | short term up | 7 days later | +0.09% | +0.09% |
| 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% |
| 6/9/2026 11:11:59 AM | medium term cautious down | 20 days later | +1.22% | -0.61% |
| 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% |
yields
Kevin Warsh is judged more hawkish than expected, and rate differentials between Japan and the US are widening, implying upward pressure on US yields.
