In the week ended June 30, the USDJPY broke beyond previous highs just above 160 on Wednesday, climbing to above 161. Though the pair retraced in the following two days, it managed to close the week above the former high of 160.21 regardless.

The USDJPY closed up seven straight days, with Thursday's and Friday's gains putting the pair just within reach of 160. It appears that this past week has carried forward the undertone from the previous week of trading, where dollar bulls gained ground from a reduced FOMC member expectation to only one rate cut within 2024, and where yen bears added momentum when a reduction in JGB purchases was postponed at the BOJ's monetary policy meeting.

Stop-and-go action was the theme for the USDJPY pair this week, while the EURUSD and GBPUSD pairs were in a bearish trend.

In the week ending June 9, the USDJPY dropped from above 157 to below 155 in the first half of the week, driven down by weak U.S. economic indicator releases. However, price movements stabilized mid-week, and the USDJPY temporarily returned to above 157 after a stronger-than-expected U.S. jobs report released on Friday.

In the week ending June 2, overall currency trends included a strengthening dollar and yen, with the USDJPY in a short downward retrace after exceeding 157.5. The EURUSD was mostly aimless, trending between 1.08 and 1.09. Meanwhile, the GBPUSD reversed its climb after reaching just below 1.28.

Currency exchange markets in the past week have been characterized by a strengthening dollar. The only high-profile economic data release during the week was the number of new home sales in the U.S.; however, there were several comments from monetary officials suggesting caution against a rate cut before the end of the year.

Currency markets in the past week were sharp and well-defined in their movements. Influenced by data releases such as the U.S. wholesale pricing index (PPI) and Consumer Price Index (CPI), the USDJPY fell from above 156 to below 154 in the span from May 15 to May 16, but has since rebounded.

The currency market in the past week has been characterized by a gradually strengthening yen. In the preceding week, ended May 5, the USDJPY fell to approach 151 due to the Bank of Japan's currency intervention and poor U.S. employment data.

In the past week, the USDJPY plunged from a high around 160 to as far as below 152 due to sharp yen buying that appeared to be the result of multiple currency interventions.

The currency market in the past week has been characterized by an overwhelmingly weakening yen.

Markets in the week ending April 21 displayed yet another round of dollar appreciation. This was a theme established early in the week, with the morning of Monday, April 15 seeing the USDJPY break above recent highs and build higher past 154.

The currency market in the past week has been characterized by a strengthening dollar.

Currency markets last week saw the dollar weaken, followed by a weakening yen.

Currency markets last week sent the USDJPY to a high of 151.96, barely breaching the yen's 2022 high of 151.94. However, the pair quickly retreated, spending the remainder of the week within a tight range around the 151 price level. Let's review the market movements through the week.

Last week saw a series of important economic indicator releases and key figures' statements, including policy rate announcements in Japan and the United States.

Through the past week, the USDJPY rose while the EURUSD and GBPUSD moved to correct upward momentum. The USDJPY traded in the range of 146.48 to 149.16, with a break above 150 once again in sight.