Traders on High Alert as the Yen Hits a Four-Decade Low

A US 100-dollar banknote and Japanese banknotes arranged in Kyoto, Japan, on Tuesday, Jan. 27, 2026. The yen is now hovering around its strongest level since October after comments from Japanese officials fueled speculation that the government may intervene in the market to prevent the currency from resuming its slide. Photographer: Kentaro Takahashi/Bloomberg