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U.S. forex market summary: dollar rises to 156.90 yen range amid uncertainty over U.S.-Iran situation

Fri May 8, 2026 7:55 am JST Currency

The dollar-yen exchange rate in the New York foreign exchange market on the 7th closed at around 156.93 yen per dollar, approximately 55 sen higher in dollar terms and weaker in yen compared to the previous day. The euro stood at around 184.01 yen per euro, nearly 30 sen higher in euro terms and weaker in yen.

The dollar-yen pair touched 156.02 yen during Japanese trading hours on expectations of an end to hostilities between the U.S. and Iran, but remained resilient in overseas markets amid a wait-and-see mood regarding the outcome of peace negotiations. The dollar was supported by strong U.S. initial jobless claims data for the previous week and a robust preliminary reading of U.S. non-farm business sector labor productivity for the January-March quarter released on the day, as well as the New York Fed's April consumer survey showing the median one-year inflation expectation at its highest level in a year. Subsequently, when the Wall Street Journal reported that "the Trump administration is considering resuming 'Project Freedom,' an operation to support vessel navigation in the Strait of Hormuz, as early as this week," the dollar was pushed higher to 156.96 yen at one point on safe-haven dollar buying.

The euro traded at around 1.1726 dollars per euro against the dollar, slightly more than 0.0020 dollars lower in euro terms and higher in dollar terms compared to the previous day.

Source: MINKABU PRESS

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

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