USD/JPY Breaks 162 on June 30, Highest Since December 1986

USDJPY0.13%

According to Bitget data, on June 30, the U.S. dollar climbed to 162 against the Japanese yen (USD/JPY) for the first time since December 1986, a 40-year high.

The yen's depreciation pressure persists despite Japan's central bank tightening policy. The Bank of Japan ended its negative interest rate regime in 2024 and raised its benchmark rate to 1% on June 16—the highest level since 1995—yet the yen remains under pressure as markets anticipate the Federal Reserve will maintain a hawkish stance.

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