The dollar-yen exchange rate in the Tokyo foreign exchange market on the 30th stood at around \159.89 per dollar as of 10:00 a.m., trading approximately 5 yen stronger for the yen compared to 5:00 p.m. on the 27th.

In the New York foreign exchange market on the 27th, the dollar-yen pair closed at around \160.31 per dollar, approximately 50 yen stronger for the dollar compared to the previous day. Amid heightened concerns over a prolonged conflict in Iran, the pair temporarily rose to the upper 160.40 range, marking the weakest yen level in one year and eight months. The final reading of the University of Michigan's consumer sentiment index for March declined from the preliminary figure, while the one-year inflation expectation exceeded the preliminary estimate. This raised awareness of a scenario in which the Federal Reserve would move toward interest rate hikes. Additionally, WTI crude oil futures for the nearby May contract temporarily exceeded $100 per barrel in the U.S. crude oil futures market, triggering safe-haven dollar buying.

On the 30th, the pair traded in the upper 160.40 range around 8:00 a.m., but subsequently shifted to dollar selling and yen buying. Vice Finance Minister for International Affairs Atsushi Mimura stated on the day that speculative movements have intensified not only in the crude oil futures market but also in the foreign exchange market, adding that 'if this situation continues, decisive measures may soon be necessary.' This raised awareness of the possibility of foreign exchange intervention by the government and the Bank of Japan.

The euro traded at around $1.1507 per euro against the dollar, approximately $0.0011 weaker for the euro compared to 5:00 p.m. on the previous Friday. Against the yen, it stood at around \183.98 per euro, approximately 23 yen stronger for the yen.

Source: MINKABU PRESS