[MARKET UPDATE] USD/JPY reaches a new YTD high of 162.89, helped by DXY strength

Newsquawk Staff · 21 Jul 2026, 14:12 UTC

USD/JPY reaches a new YTD high of 162.89, helped by DXY strength.

What it means

The USD/JPY reaching a new year-to-date high of 162.89 underscores robust demand for the dollar, driven by strength in the DXY. This movement may signal continued interest in the USD amid shifts in interest rate expectations, potentially impacting risk sentiment and capital flows across the FX landscape.

What our latest note said

US Market Open, 22 Oct, 10:37 UTC · what it led with

Iran's IRGC Navy warned that US efforts to encourage passage could result in strikes on US bases.
Iran's Major General Rezaei said Iran has presented seven new conditions through mediators and will neither reopen the Strait of Hormuz nor resume negotiations until they are met.

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Headlines that moved markets

FX headlines from our feed, and what the market did next.

Fed’s Waller (voter) says more rate hikes are likely needed to tame inflation, but there is flexibility over the pace and hikes do not need to be consecutive.
DXY+0.1%
Japan's GPIF didn't discuss allocation at its September meeting, Bloomberg reports.
USD/JPY+0.1%
Japanese FX Official Mimura says they are closely watching to see if markets take the clear message they are giving at face value. Not satisfied with or reassured by recent JPY action.
USD/JPY−0.5%

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