Yen Hits Four-Decade Low of ¥162.58 Per Dollar

The yen weakened to ¥162.58 per dollar on June 29, 2026, its lowest level since December 1986, as the interest-rate gap between the US and Japan, elevated energy prices from the Iran war, and a broadly strong dollar combined to pressure the currency despite the BOJ's June rate hike. Finance Minister Satsuki Katayama said the government stood ready to take 'appropriate action' against excessive currency moves, reviving speculation of direct market intervention.