USD/JPY: Yield spread keeps pair on upward path – Societe Generale
USD/JPY jumped on Tuesday as short-lived risk appetite was hit by renewed tensions in the Middle East that pushed the price to the upper side of a narrow near term range (158.80/159.35).
In late April 2026, Japan's Ministry of Finance moved from verbal warnings to direct action, carrying out a currency intervention worth roughly ¥5.5 trillion ($35 billion) — the first since July 2024. The move was triggered by the yen weakening beyond the psychologically significant level of 160 against the dollar.
USD/JPY rose to 159.04 at the end of the week, marking the yen's second consecutive weekly decline. The Japanese currency came under pressure after weaker inflation data reduced expectations of imminent Bank of Japan policy tightening.
USD/JPY is rising for a second straight session as renewed geopolitical tensions support the US dollar and keep inflation concerns elevated ahead of key US CPI data later today.
USD/JPY: Intervention doubts with BoJ caution – MUFG
USD/JPY: Intervention risks and 155 target – OCBC
USD/JPY: Recovery risks for carry trades – Societe Generale
USD/JPY: Intervention fears drive sharp gains – BNY
USDJPY recently had one of its worst days, triggering the alarm bells near 160. However, the rebound has come too fast.
USD/JPY: Intervention impact seen fading – ING
USD/JPY: Intervention battles rising Oil – DBS