USD/JPY slips to one-month low as yields fall and BoJ hike bets rise: Oct 23, 2026
The yen reached a one-month high against a broadly weaker U.S. dollar, supported by Japanese core inflation above the Bank of Japan's 2% target, hawkish BoJ comments backing rate hikes, and falling U.S. Treasury yields. It also drew safe-haven demand as a global tech selloff and growth concerns weighed on markets, with focus remaining on Fed and BoJ policy as the pair pulled back from recent highs.
Updated
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Headlines (9)
First seen on October 23
- Japanese Yen gathers strength as CPI inflation exceeds target, backing BoJ rate hikesFXStreet
- Japan core inflation tops BoJ’s 2% target for first time since December, yen firmsInvestingLive
- Japanese Yen retreats from one-month top vs recovering USD as focus remains on Fed and BoJFXStreet
Carried over from earlier days
- Japanese Yen faces challenges as Japan’s Trade Deficit widens, BoJ signals cautionFXStreet
- Japanese Yen ticks up within previous range, buoyed by hawkish BoJ commentsFXStreet
- Japanese Yen pulls back slightly after hitting fresh monthly high vs broadly weaker USDFXStreet
- The Japanese yen is once again acting as a safe haven as growth concerns replace inflation fearsInvestingLive
- Global Tech Selloff Lifts Yen as French Bond Stress Weighs on EuroActionForex
- USD/JPY Breaks Support as Falling Treasury Yields Favor the YenInvesting.com
Scheduled events
As of
| Event | Forecast | Currency |
|---|---|---|
| Friday, October 23 | ||
| Flash Manufacturing PMI | 54.5 | JPY |
| Flash Manufacturing PMI | 55.4 | USD |
| Flash Services PMI | 57.9 | USD |
| Revised UoM Inflation Expectations | USD | |
| Revised UoM Consumer Sentiment | 46.3 | USD |
| Treasury Currency Report | USD | |
| Sunday, October 25 | ||
| Trade Balance | JPY | |
| Fed Monetary Policy Report | USD | |