USD/JPY live

On July 1, 2026, USDJPY traded at 162.44, reflecting a 0.36% gain from the previous day and pushing the yen to its weakest level against the dollar in 40 years. The Federal Reserve's steady hawkish stance contrasts sharply with the Bank of Japan's cautious tightening and government preference for loose monetary policy. Rising US Treasury yields and resilient US labor data underpin the dollar's strength, while Japan's ambitious fiscal expansion and debt concerns weigh on the yen. Despite official warnings of possible intervention, analysts expect further yen weakness near term, with technical indicators signaling overbought conditions that may invite a corrective pullback.

USD/JPY sits at 160.38 this morning as the Bank of Japan's historic rate hike to 1% fails to arrest yen weakness. The pair edged up 0.12% on June 16, reflecting a market that had fully priced in the BOJ move and continues to be anchored by a wide US-Japan rate differential. With the Federal Reserve concluding its own policy meeting today and Chair Kevin Warsh set to speak, the next directional move for the pair may come within hours.