TOKYO — The Japanese yen experienced a sharp overnight rally against the U.S. dollar, climbing to 158, a move apparently triggered by Japanese currency intervention late Thursday night. However, the yen slipped back into the 160 range on Friday, July 31, 2026, as commercial demand for dollars resumed once trading began in Japan.

Meanwhile, Asian technology stocks surged significantly, fueled by renewed optimism in artificial intelligence (AI) following Microsoft's strong financial results. Notably, Samsung and SK Hynix shares rose by over 20%, while Kioxia remained bid-only amid the positive market sentiment.

This market activity reflects a dynamic interplay between currency interventions and investor enthusiasm in the tech sector across Asia.

Sources