This Week's Market - June 23, 2026 (Tuesday)

This week's market - June 23, 2026 (Tuesday)

Following reports that Finance Minister Katayama and Treasury Secretary Bessent held an emergency online meeting yesterday to discuss responses to yen depreciation, as well as the possibility of foreign exchange market intervention, the yen rate is weighing heavily ahead of the 162 yen level. The 161.95 yen level appears to be regarded by authorities as a key resistance line, but the dominance of yen selling remains unchanged in the current situation. Today there are no notable U.S. indicators, but attention should be paid to the 3-year U.S. Treasury auction. As long as the rate does not fall below 160.80, dips should continue to be bought, but it would also be wise to consider reverse stop-loss positions in anticipation of a possible intervention.