Yen Consolidates Near 40-year Low Vs. Dollar, May Weaken Further

Dow Jones07-24 08:11

0011 GMT - The yen consolidates near a 40-year low against the dollar, and could weaken further, analysts say. "Growing expectations of further interest rate hikes in the United States have strengthened the US dollar," SMBC's Hirofumi Suzuki says in an email. "Heightened tensions in the Middle East have pushed up crude oil prices, placing selling pressure on the currencies of energy-importing countries. Within Asia, the Japanese yen and Thai baht are particularly vulnerable to this pressure," the chief FX strategist says. Also, the pace of the BOJ's tightening has been extremely gradual, Suzuki adds. The dollar is flat at 163.83 yen after touching 163.98 yen overnight, the highest intraday level since 1986, LSEG data show. (ronnie.harui@wsj.com)

 

(END) Dow Jones Newswires

July 23, 2026 20:11 ET (00:11 GMT)

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