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NY foreign exchange: Dollar softens to 158.60 yen as risk-off buying unwinds
The dollar-yen rate closed at around 158.79 yen in the New York foreign exchange market on the 14th, down approximately 65 sen from the previous day. The euro traded at around 187.32 yen, down nearly 20 sen against the yen.
Reuters reported that day that "U.S. and Iranian negotiating teams may travel to Pakistan again this week for talks aimed at ending the war," triggering an unwind of risk-off dollar buying on expectations of easing Middle East tensions. The greenback also faced pressure from declining crude oil futures on the New York Mercantile Exchange (NYMEX) and March U.S. Producer Price Index (PPI) data that came in below market expectations. With inflation concerns receding and U.S. long-term yields falling, the dollar-yen pair dipped to 158.60 yen at one point.
The euro traded at around $1.1796 against the dollar, up nearly $0.0040 from the previous day.
Source: MINKABU PRESS
*Translated by generative AI. Click here for the original article.
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