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NY FX summary: Dollar falls to 157.59 yen on Strait of Hormuz reopening

Mon Apr 20, 2026 7:55 am JST Currency

The dollar closed at around 158.64 yen in the New York foreign exchange market on the 17th, down more than 50 sen from the previous day. The euro traded at around 186.63 yen, down nearly 90 sen against the yen.

Iranian Foreign Minister Araghchi posted on his social media account that "following the ceasefire in Lebanon, the Strait of Hormuz will be fully opened to allow all commercial vessels to pass during the ceasefire period." U.S. President Trump also stated that "Iran has promised never to blockade the Strait of Hormuz again." On expectations that energy transportation would recover, U.S. crude oil futures plunged sharply, prompting widespread unwinding of dollar-long and yen-short positions that had been built up on "safe-haven dollar buying" amid geopolitical tensions. The dollar weakened to 157.59 yen at one point, also weighed down by declining U.S. long-term interest rates on receding inflation concerns. However, some reports suggested that "Iranian officials indicated there remains a significant gap with the United States, noting that maintaining the opening of the Strait of Hormuz is conditional on U.S. compliance with ceasefire terms," leaving uncertainty lingering. The dollar firmed after initial selling subsided.

The euro traded at around 1.1765 dollars against the dollar, down about 0.0015 dollars from the previous day.

Source: MINKABU PRESS

*Translated by generative AI. Click here for the original article.

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