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U.S. FX market summary: dollar rises to 159.40 yen level on higher U.S. long-term yields

Tue Apr 28, 2026 7:55 am JST Currency

The dollar-yen exchange rate in the New York foreign exchange market on the 27th closed at around 159.42 yen per dollar, approximately 4 sen higher in dollar terms and lower in yen terms compared to the previous weekend. The euro was nearly flat at around 186.87 yen per euro, approximately 1 sen higher in euro terms and lower in yen terms.

Following a report by U.S. news site Axios earlier in the day that "Iran has presented a new proposal to the U.S. through Pakistani mediation to reopen the Strait of Hormuz and end the war," the dollar-yen pair fell to 159.10 yen during Japan trading hours as "safe-haven dollar buying" unwound. However, dollar selling and yen buying subsided in overseas markets due to strong uncertainty surrounding U.S.-Iran negotiations. With crude oil futures remaining elevated, dollar buying flowed in during the New York session as U.S. long-term interest rates rose, pushing the pair up to 159.46 yen at one point. Nevertheless, active trading was restrained amid a mood to wait and see the outcome of the second round of U.S.-Iran peace talks and monetary policy decisions by major central banks.

The euro stood at around 1.1721 dollars per euro against the dollar, nearly flat and approximately 0.0001 dollar lower in euro terms and higher in dollar terms compared to the previous weekend.

Source: MINKABU PRESS

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

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