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fxJul 8, 2026, 5:20 PM

USD/JPY Rallies to Near 162.50, Approaching Multi-Decade Highs

The Japanese yen weakened sharply, pushing USD/JPY to around 162.50 on Wednesday, close to four-decade highs. The move is driven by geopolitical risks and caution ahead of the FOMC meeting.

USDJPY

The US dollar strengthened against the yen on Wednesday, driving the USD/JPY pair to trade near 162.50. Earlier in the session, the pair approached levels not seen in four decades.

Support for the greenback came from heightened geopolitical tensions and investor caution ahead of the Federal Open Market Committee meeting. The yen continues to fall as the dollar remains supported by risk-off sentiment.

Source: FXStreet Forex News