Dollar Rally Pauses on Iran Deal Hopes; Yen Edges Back From Intervention Zone
The yen strengthened as hawkish Bank of Japan comments and intervention concerns offset dollar support from hopes of a Washington-Tehran deal.
- On Thursday, the USD hovered below a six-week peak after retreating on rising hopes that Washington is nearing a deal with Tehran to end the war in the Middle East.
- President Donald Trump said Wednesday that negotiations with Iran are in the final stages, while warning of further attacks if the country does not agree to a deal.
- Against the JPY, the USD fell to 158.905, snapping an eight-session winning streak, while the EUR remained steady at $1.1626 on Thursday.
- Junko Koeda, a Bank policy board member in Japan, stated the Bank must continue raising rates with underlying inflation near the 2% target on Thursday.
- Commonwealth Bank head of FX Joseph Capurso wrote that "positive news about the Iran war" reversed safe haven flows, though he cautioned President Trump might choose military escalation for leverage.
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Channel News Asia
Dollar rally pauses on Iran deal hopes; yen edges back from intervention zone
TOKYO, May 21 : The U.S. dollar hovered below a six-week peak on Thursday after pulling back on rising hopes that Washington is nearing a deal with Tehran to end the war in the Middle East.U.S. President Donald Trump said negotiations were in the final stages, while also warning of further attacks if Iran doe
Japanese Yen flatlines above 159.00 as intervention fears counter US–Iran tensions
The USD/JPY pair trades on a flat note around 159.05 during the early Asian session on Wednesday. The potential upside for the pair might be limited amid intervention fears from Japanese authorities. Traders continue to digest the latest headlines on US talks with Iran to end the war. Japan’s April National Consumer Price Index (CPI) inflation report will be in the spotlight later on Friday. US President Donald Trump on Tuesday threatened to re…
Japanese Yen Weakens Further Below 159 Against USD As Middle East Tensions Escalate
BitcoinWorld Japanese Yen Weakens Further Below 159 Against USD as Middle East Tensions Escalate The Japanese yen extended its decline on Wednesday, sliding further below the 159.00 level against the U.S. dollar to reach a nearly three-week low. The move comes as escalating geopolitical tensions in the Middle East drive investors toward the U.S. dollar as a safe-haven asset, putting additional pressure on the yen despite its traditional safe-ha…
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