The Japanese yen slid past ¥162 to the dollar during Tokyo trading on June 30, marking its weakest level since December 1986.
The move immediately reignited speculation that Japan’s finance ministry could step in with another round of currency intervention.
A familiar playbook under strain
Between late April and late May 2026, authorities spent a record approximately 11.7 trillion yen, roughly $72.5 billion, buying yen in the open market to prop up the currency.
That intervention briefly pushed the exchange rate back toward the mid-150s. The dollar strengthened again, dragging USD/JPY back above 160 and now past the 162 threshold.
