The USD/JPY pair is climbing to levels not seen since 2002. One of the catalysts for the Japanese yen's weakness today is the bond market. US 10-year bond yields began to rise in early New York trading, jumping to 3.01%. This is the first move above 3% since a brief breakout in May. The Bank of Japan continues to hold the ultra-loose monetary policy. Haruhiko Kuroda, head of the Bank of Japan (BOJ) reiterated today that the most important goal for the central bank is to support the economy by maintaining massive stimulus programs.
Chart of the USDJPY pair, MN interval.
Three markets to watch next week (23.10.2026)
BREAKING: France slows down, Germany holds on. Euro falls below 1.12
Chart of the Day: Is USDJPY running out of road? Inflation forces the BoJ to act, but the Fed could spoil the Yen’s rally
Macro Calendar: Preliminary PMI Readings and Earnings Ahead