U.S. forex market summary: dollar rises to 159.50 yen range amid higher oil prices
The dollar-yen exchange rate in the New York forex market on the 22nd finished at around 159.48 yen, up approximately 10 sen from the previous day. The euro traded at around 186.68 yen, down approximately 45 sen against the yen.
US President Trump announced via social media on the 21st that he would extend the ceasefire with Iran. However, his statement that "the blockade of Iranian vessels in the Strait of Hormuz will be maintained" fueled expectations that normalization would take time, driving US crude oil futures higher and sparking dollar buying on inflation fears. Despite a proposal for a second round of direct US-Iran talks as early as the 24th mediated by Pakistan, persistent uncertainty over peace negotiations limited the unwinding of safe-haven dollar positions. The dollar rose to a temporary high of 159.57 yen after Iranian President Pezeshkian cited US commitment violations and the port blockade as major obstacles to genuine talks, triggering a flight to quality. Meanwhile, concerns over the impact of high energy prices on the European economy weighed on the euro against both the dollar and yen.
The euro traded around 1.1705 dollars, down approximately 0.0040 dollars from the previous session.
Source: MINKABU PRESS
*Translated by generative AI. Click here for the original article.
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