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fxJul 8, 2026, 4:39 AM

Yen Remains in Depreciating Mode as Dollar Gains on Strait of Hormuz Tensions

The Japanese yen continues to weaken amid a broader dollar rally driven by fresh attacks in the Strait of Hormuz. The dollar index is targeting 101.50–102, which could push the euro down to 1.1350–1.13.

EURUSDUSDJPYDXY

The yen is in a sustained depreciating mode, according to the morning briefing. Fresh attacks reported in the Strait of Hormuz have triggered a flight to the US dollar, pushing the dollar index higher.

The dollar index is expected to rise toward the 101.50–102 range. This move could drag the euro down to 1.1350–1.1300 against the dollar.

The yen remains under pressure, with further downside targets implied but not specified in the report. No specific data or time frame was provided.

Source: FXStreet Forex News