Tokyo, 22 July 2026 – The Japanese yen weakened beyond 163 per US dollar for the first time since 1986 as escalating tensions involving Iran, higher oil prices and uncertainty surrounding Japan’s economic policies intensified pressure on the currency.

The yen fell as much as 0.5% to 163.24 against the dollar before holding near 163.21 during early Asian trading. The decline took the currency to its weakest level in almost four decades and increased speculation that Japanese authorities could intervene again.

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Kenji Yamamoto
Kenji Yamamoto is a Senior Fellow at The Ledger Asia, where he explores the critical nexus of Asian international relations, economic development, and environmental sustainability. With extensive experience in cross-border policy analysis, Kenji provides a unique perspective on how diplomatic alliances and green energy transitions drive long-term growth across the Asia-Pacific.
Previously an advisor for regional development banks, he specializes in sustainable infrastructure and the circular economy’s role in modernizing emerging markets. At The Ledger Asia, Kenji’s deep-dive reports help readers navigate the complex balance between rapid industrialization and the global imperative for climate resilience and corporate responsibility.

Yen Falls to 39-Year Low as Iran Tensions and Policy Concerns Drive Selling

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