FX summary: Dollar-yen trades around 159.50, remains range-bound amid strong uncertainty
The dollar-yen exchange rate in the Tokyo foreign exchange market on the 23rd stood at around 159.53 yen per dollar as of 3:00 p.m., up over 30 sen from 5:00 p.m. the previous day. The euro was trading at around 186.76 yen per euro, down over 40 sen against the yen.
The dollar-yen pair surged briefly to the upper 159.60 yen level shortly after 9:10 a.m., but softened to near 159.30 yen around 9:50 a.m. It subsequently recovered and rose to near 159.60 yen shortly after 2:30 p.m. U.S. President Trump announced on the 21st that he would extend the ceasefire with Iran. However, crude oil prices remain elevated as the U.S. Navy continues its reverse blockade of the Strait of Hormuz. While some reports suggest that the U.S. and Iran may hold a second round of talks as early as the 24th, strong uncertainty persists and the market continues to move back and forth.
The euro against the dollar was trading at around 1.1707 dollars per euro, down over 0.0040 dollars.
Source: MINKABU PRESS
*Translated by generative AI. Click here for the original article.
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