On 31 July 2026 the US and Japan jointly intervened to slow the yen's slide, which had hit about 164 yen per dollar, the weakest in 40 years. The yen then firmed to roughly 155-157 per dollar on 3 August. For a Thai SME, the signal is that yen and dollar swings may be less one-directional, so check the exchange-rate assumptions in import costs from Japan and in Japanese-linked supply chains. No action is needed yet.