Dollar-yen 158.870falls, with the yen strengthening on hopes for a U.S.-Iran agreement
25In Tokyo trading, the dollar-yen exchange rate fell on hopes for a ceasefire agreement between the United States and Iran, trading as of the afternoon 1hours 46minutes 0.18% lower at 158.870 yen. The yen came under upward pressure as international oil prices fell.
25The dollar-yen exchange rate fell in Tokyo's foreign exchange market amid hopes for a ceasefire agreement between the United States and Iran. The move reflected expectations of easing international tensions in the market. International oil prices also fell during the day's trading.
As of the afternoon 1hours 46minutes, the dollar-yen exchange rate was 0.18% lower than the previous session at 158.870 yen. The exchange rate fluctuated during the session, but relatively high volatility was limited. Trading concentrated in some periods, temporarily causing the intraday trend to waver.
Early in the session, the dollar also broke above the 159yen level. It later retreated, falling back to the upper 158yen range. Prices alternated between rises and falls during the session.
International oil prices fell as hopes grew that the armed conflict between the United States and Iran could come to an end. The decline in oil prices partly eased concerns that high prices could worsen Japan’s trade balance. Japan is highly dependent on energy imports and is sensitive to oil price fluctuations.
Reduced concerns about oil prices were one factor supporting the yen. The yen’s strength led to a weaker dollar against the yen, directly reflected in the exchange rate. Investors responded sensitively to news of easing geopolitical tensions.
This trend shows how exchange rates and international oil prices are interconnected. News about oil prices and geopolitical risks is likely to have a significant effect on exchange rate volatility going forward. Market participants monitored related indicators and the flow of news.
Sources: 연합인포맥스
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