Japan Warns Markets Again, but the Yen Barely Moves

Japan's government warned in mid-July 2026 it might prop up the yen, but the currency stayed near 162 yen per dollar — its weakest in 40 years. Similar warnings in 2022 and 2024 only helped briefly before the yen fell again. Traders now expect the same. That confidence itself could trigger a sudden swing if Japan finally steps in.