The Japanese yen weakened against the US dollar on June 23, 2025, falling to the 147 yen per dollar level for the first time since May 14. The yen briefly dropped further to the 148 yen range amid broad-based yen depreciation, driven by increased demand for the dollar in times of uncertainty. However, by late trading in New York, the yen recovered slightly to around 146 yen per dollar and then strengthened by 0.2% to 145.88 yen per dollar. Market analysis suggests that the dollar-yen exchange rate could test the 150 yen level, influenced by option positioning and political developments related to the Liberal Democratic Party (LDP) in Japan.