US dollar hits upper 158.90 yen range as Iran situation fuels uncertainty

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Tue Apr 21, 2026 7:55 am JST Currency

The dollar-yen exchange rate in the New York foreign exchange market on 20th closed at around 158.81 yen, with the dollar strengthening nearly 0.20 yen against the yen compared to the end of previous week. The euro traded at around 187.22 yen, approximately 0.60 yen higher against the yen.

"Safe-haven dollar buying" dominated after US President Trump posted on social media on 19th that an Iranian cargo ship, the Touska, was seized by the US Navy for attempting to break through a blockade. Sentiment further soured on 20th when an Iranian Foreign Ministry spokesperson stated Tehran currently has no plans for further talks with the US. While expectations for a diplomatic breakthrough grew briefly as a US delegation led by Vice President JD Vance headed to Pakistan, dollar buying resumed following Trump’s comments that an extension of the April 22 ceasefire deadline (April 23 Japan time) is "extremely unlikely." Amid persistent uncertainty, the dollar-yen pair touched the upper 158.90 yen range at one point. Meanwhile, euro buying emerged, likely driven by position adjustments, as traders monitored the potential for renewed US-Iran negotiations.

The euro against the dollar traded at around 1.1788 dollars, up slightly over 0.0020 dollars from the end of previous week.

Source: MINKABU PRESS

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