kabutan

Foreign exchange summary: Dollar trades around 156.30 yen as hopes for end of Iran conflict trigger dollar selling

Thu May 7, 2026 3:30 pm JST Currency

The dollar-yen exchange rate in the Tokyo foreign exchange market on the 7th stood at around 156.37 yen per dollar as of 3:00 p.m., marking a decline of just over 20 sen from 5:00 p.m. on the 1st, with the dollar weaker and the yen stronger. The euro traded at around 183.76 yen per euro, remaining largely flat with a slight decline of about 1 sen compared to the same reference point.

The dollar-yen pair was trading around 156.50 yen as of 9:00 a.m., but softened to the 156.00 yen range after 10:40 a.m. U.S. news site Axios reported on the 6th that the United States and Iran are nearing an agreement on a memorandum regarding the cessation of hostilities. Expectations grew that negotiations toward ending the conflict were progressing, leading WTI crude oil prices to trend downward. This triggered unwinding of "safe-haven dollar buying." Concerns about potential foreign exchange intervention by the government and the Bank of Japan also remained strong. However, the pair recovered to near 156.40 yen in the afternoon. Market participants are also closely watching the U.S. April employment statistics to be released on the 8th.

The euro traded at around 1.1751 dollars per euro against the dollar, representing a gain of just over 0.0010 dollars with the euro stronger and the dollar weaker.

Source: MINKABU PRESS

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

Related Articles