The Japanese Yen hits a two-week high, and the US dollar index continues to rise

AirdropHuntress · 2026-02-12T10:10:25+00:00

The Japanese general election is approaching, causing fluctuations in the yen exchange rate. The US dollar is rising strongly, hitting a two-week high against the yen. The rise in the US dollar index has generally pressured commodity currencies, and the British pound and euro are also performing weakly against the dollar. The market is focusing on the dollar's strong position, while the yen is affected by political factors.

AirdropHuntress

2026-02-12 10:10:25

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Due to the upcoming Japanese general election, the yen exchange rate has experienced significant fluctuations. The US dollar index has recently maintained an upward trend, hovering around 97.65, with gains expanding to over 0.2%. The dollar’s performance against the yen has been particularly strong, reaching its highest level in nearly two weeks, briefly approaching 156.94.

Japanese Election Context Leads to Yen Adjustment

Japan is about to hold a general election, and this political event has become the main factor influencing the yen. The yen has been under pressure for four consecutive trading days, but as the market gradually digests this expectation, the USD/JPY pair has rebounded, with the latest quote hitting a two-week high.

Dollar Index Strengthens, Commodity Currencies Come Under Pressure

The rise in the dollar index has driven a general adjustment in the foreign exchange market. During the New York close, commodity-related currency pairs performed relatively weakly. The AUD/USD approached the 0.7 level, down about 0.4%; the NZD/USD declined to around 0.6, falling over 0.7%. Meanwhile, the USD/CAD rose slightly by 0.2%, breaking above 1.366.

GBP and EUR Under Pressure Against the US Dollar

The GBP/USD declined by 0.3%, currently hovering around 1.365; the EUR/USD remains around 1.18, with no clear directional breakout so far. The rise in the dollar index reflects the market’s renewed recognition of the dollar’s strength, while the yen, as a safe-haven currency, is temporarily suppressed by domestic political events in Japan.

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