USD/JPY, at 160.87 yen, the highest in about 38 years since December 1986.

【6/26Market Overview

In Tokyo time, the USD/JPY and other crosses such as AUD/JPY rose, and in after-hours the 10-year U.S. bond yield rose, pushing the pair up to159.90yen. In European session, USD/JPY rose beyond6/24high of159.92yen to159.93yen. In New York time, with a notion of yen weakness, there was broad yen selling and USD/JPY briefly toppedNYtime, rising above160yen,4/17high of160.20yen, and then 160.56yen to160.01yen retreat was limited after remarks by Kanda, the Minister of Finance, that “the currency move is rapid,” “we will take necessary measures to address excessive moves,” and that the market is being watched with a high level of vigilance. Afterward, on a rise in the 10-year U.S. Treasury yield, toward the close in New York, there was a brief high of160.87yen and1986yearmonth high38years and six months) high was renewed.