The Japanese yen has collapsed to its weakest level against the US dollar ($DXY) in nearly 40 years, breaching 162 yen per dollar on June 30, 2026 to reach a level not seen since December 1986.
This historic decline represents the yen's fourth consecutive quarterly loss, its longest losing streak in four years, and has occurred despite Japan deploying approximately $72.5 billion in currency interventions between late April and late May and the Bank of Japan raising its benchmark interest rate to 1% on June 16 — the highest since 1995.
