Illustration of a flying pig with dollar bills for wings being ridden by a group of businessmen

Photograph: Satoshi Kambayashi

Jun 30th 2026|4 min read

THE PAST week has set recent records for Asian currencies. The Korean won has dropped to its lowest level against the dollar in 17 years. The Japanese yen has dropped even further, reaching its weakest against the greenback in four decades. America’s speedy economic growth and insatiable demand for its tech stocks are raising demand for its currency. As the dollar strengthens, policymakers in Washington bristle. The treasury secretary, Scott Bessent, has groused about the weakness of both Asian currencies this year.

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