Currency Stress Index — July 2026: 30.9

The Currency Stress Index reached an early peak of 37 on July 1 before sliding down to its lowest point of 16 on July 30. Early in the month, market tension was driven up by an intensifying U.S.-Iran conflict, broader Russian sanctions, and the yen sliding toward 170 on the dollar due to pension doubts. Conditions began to calm as the dollar faded from its one-week high and traders grew wary of potential intervention risks. Stress dropped further late in the month, including notable single-day falls of 11 and 5 points, as the Bank of Japan held interest rates at 1% while warning that core inflation could exceed its target. Ultimately, the index finished the month at its lowest level with an overall average of 30.9.

Scores in this month were computed by the first-generation engine (v1).

Peak 37 on 2026-07-01 · low 16 on 2026-07-30 · locked record · ← June · Currency Stress Index timeline · August → · World Tension, same month

• Dollar gains as U.S.-Iran conflict intensifies; sterling gives back gains CNBC · 2026-07-19
• Russia Bill Broadens Sanctions but Could Fuel Fears Over the Dollar The New York Times · 2026-07-18
• BOJ holds rates at 1%, warns of core inflation exceeding 2% target CNBC · 2026-07-30
• Dollar eases against yen as intervention risks keep traders wary CNBC · 2026-07-31
• Dollar edges higher on escalating US-Iran tension, yen slides on pension doubts reuters.com · 2026-07-13
• Dollar falls after cooling producer prices, Middle East escalation in focus reuters.com · 2026-07-15
• Dollar firms as US-Iran tensions renew oil price risk reuters.com · 2026-07-16
• Market Minute: Yen heading toward 170 on the dollar The Real Economy Blog · 2026-07-22

• Dollar fades after touching one-week high as Iran deal in doubt