Japan’s Mimura flags yen moves are too rapid as USD/JPY pushes back toward 160
Japan's 2026 track record means USD/JPY near 160 now carries real two-way risk, and that should make market players more reluctant to chase fresh highs even if the trend remains up. The bigger driver is still the US-Japan rate gap.
In this article
Japan's 2026 track record means USD/JPY near 160 now carries real two-way risk, and that should make market players more reluctant to chase fresh highs even if the trend remains up, according to investingLive. The bigger driver is still the US-Japan rate gap.
Key points
- Japan and the United States verified that operation had been carried out jointly.
- Mimura, who oversees Japan's currency policy, spoke at about 00:13 GMT (19:13 US Eastern).
- Japan's producer prices climbed 7.1% in October from a year earlier, beating forecasts.
- A soft yen also amplifies the cost of imported oil.
What happened: USD/JPY
A soft yen also amplifies the cost of imported oil, keeping pressure on the Bank of Japan in the run-up to its December meeting. Mimura, who oversees Japan's currency policy, spoke at about 00:13 GMT (19:13 US Eastern). Japan and the United States verified that operation had been carried out jointly, the first coordinated yen-buying since the 1998 Asian financial crisis in early August.
Japan's producer prices climbed 7.1% in October from a year earlier, beating forecasts, and the Bank of Japan is widely anticipated to raise its 1.25% policy rate in December.
Why traders are watching USD/JPY
The yen is driven by the gap between Japanese and overseas interest rates and by its role as a safe haven. Changes in Bank of Japan policy or intervention risk can trigger fast moves in USD/JPY.
Because many carry trades are funded in yen, sudden shifts in Japanese policy can ripple through global markets.
Market reaction and data
Crypto prices at the time of writing, from Binance spot data (2026-11-12 01:11 UTC):
| Asset | Last price (USDT) | 24h change | 24h high | 24h low |
|---|---|---|---|---|
| Bitcoin (BTC) | 73,798.00 | 0.47% | 74,811.45 | 73,209.12 |
| Ethereum (ETH) | 2,052.49 | 0.32% | 2,103.78 | 2,035.83 |
On the currency side, the latest ECB daily reference rates (2026-11-11) show EUR/USD 1.1127, GBP/USD 1.3307, AUD/USD 0.6859, NZD/USD 0.5583, USD/JPY 159.23, USD/CHF 0.8299, USD/CAD 1.4235, USD/CNY 6.6707. These are reference fixes, not live quotes.
What to watch next for USD/JPY
Watch for Bank of Japan guidance, comments from Japan's finance ministry about currency moves, and US yields, which strongly influence USD/JPY.
Key scheduled releases on the economic calendar:
- GBP GDP m/m on Thu Nov 12, 07:00 UTC, forecast 0.0%, previous 0.1%
- USD Core PPI m/m on Fri Nov 13, 13:30 UTC, forecast 0.3%, previous 0.7%
- USD PPI m/m on Fri Nov 13, 13:30 UTC, forecast 0.4%, previous 1.3%
Follow every update in our Top 10 Forex News Today, read United Airlines bans AI agents from booking flights: 3 reasons it matters beyond travel or see all of today's top market news.
FAQ
What is the latest USD/JPY news?
Japan's 2026 track record means USD/JPY near 160 now carries real two-way risk, and that should make market players more reluctant to chase fresh highs even if the trend remains up.
Why is the yen called a safe haven?
Japan is a large creditor nation, so in times of stress Japanese investors bring money home and traders close yen-funded positions, which tends to lift the currency.
Where does this information come from?
This report is based on coverage from investingLive, checked against market data where available. It is a summary for information only and not investment advice.
Risk warning: This article is for information only and is not investment advice. Trading forex, CFDs, stocks and crypto carries a high risk of losing money. Prices move fast – check live quotes before you trade.
