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Foreign exchange summary: Yen briefly strengthens to upper 159.10 range against dollar on reports of Iran's new proposal

Mon Apr 27, 2026 3:40 pm JST Currency

The dollar-yen exchange rate in the Tokyo foreign exchange market on the 27th stood at around 159.41 yen per dollar as of 3:00 p.m., representing a decline of slightly over 20 sen from the previous Friday's 5:00 p.m. level, with the dollar weakening and the yen strengthening. The euro traded at around 186.87 yen per euro, about 20 sen higher than the previous level, with the euro strengthening and the yen weakening.

The dollar-yen pair was trading around 159.50 yen as of 9:00 a.m., but fell to near 159.15 yen after 1:20 p.m. U.S. news site Axios reported in the Japanese morning that Iran had presented a new proposal to the United States through Pakistan regarding the reopening of the Strait of Hormuz and the end of the war. This triggered active dollar selling and yen buying as "risk-off dollar buying" unwound. Nuclear negotiations are set to begin after the Strait of Hormuz blockade is lifted. Following this report, the dollar-yen pair weakened to the upper 159.10 range, but buying interest emerged at lower levels, pushing the rate back to around 159.40 yen by 3:00 p.m.

The euro against the dollar traded at around 1.1722 dollars per euro, slightly over 0.0030 dollars higher, with the euro strengthening and the dollar weakening.

Source: MINKABU PRESS

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

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