Latest market news
Independent UK financial coverage with full source attribution.
Japan yen intervention sends USD/JPY down 0.70% on 2 July
USD/JPY fell 0.70% on 2 July 2026 following unsignalled Japanese currency intervention, with EUR/USD rising 0.26% and GBP/USD rising 0.37% as the dollar softened broadly ahead of an early-released US non-farm payrolls report.
Japanese yen falls to weakest since 1986 amid intervention concerns
An active overnight session dominated by yen weakness to 40-year lows, mixed China PMI data, and continued Hormuz geopolitical tension weighing on oil.
Yen falls to weakest level versus dollar since 1986 at 161.97
USD/JPY reached 161.97 on 29 June 2026, its highest level since late 1986, as the yen recorded a forty-year depreciation milestone against the US dollar.
Pound rises despite Starmer exit as Iran talks advance and oil slips
A busy European session driven by UK political upheaval, US-Iran nuclear talk progress, and energy market volatility ahead of the US cash open.
USD/JPY rose to 161.76 on 18 June 2026, near 2024 peak
USD/JPY reached 161.76 on 18 June 2026, its highest level since 2024 and approximately 200 pips above the 160.00 level where traders had positioned for Japanese official intervention. The Bank of Japan held its policy stance on 17 June 2026, and yen implied volatility fell to its lowest since 2021.
SNB holds rate at zero, flags franc appreciation risk and FX intervention readiness
The Swiss National Bank held its policy rate at zero on 18 June 2026 and signalled heightened readiness to intervene in foreign exchange markets against franc strength. USD/CHF and EUR/CHF featured in coverage as instruments central to the SNB's monitoring framework.