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

Following reports that yesterday's emergency online meeting between Finance Minister Katayama and Treasury Secretary Bessent discussed responses to yen depreciation and also touched on the possibility of currency intervention, the market is showing heavy resistance just below 162 yen. The 161.95 yen level appears to be seen as a key battle line for the authorities, but the current situation shows no fundamental change in the dominance of yen selling. There are no notable U.S. indicators today, though the 3-year Treasury auction is worth watching. Until the rate breaks below 160.80, dips are likely to continue attracting buyers, but it would also be worth considering stop-loss positions in preparation for potential intervention.

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