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Foreign exchange summary: Dollar trades in upper 157 yen range as rising oil prices boost dollar buying

Mon May 11, 2026 3:40 pm JST Currency

The dollar-yen exchange rate in the Tokyo foreign exchange market stood at approximately 157.13 yen at 3:00 p.m. on May 11, roughly 30 sen higher than its level at 5:00 p.m. last Friday. The euro traded at around 184.63 yen, gaining about 40 sen against the Japanese currency.

The dollar-yen pair, which hovered in the 156.80 yen range at 9:00 a.m., climbed to the 157.10 yen level shortly after noon before consolidating at those highs. In the energy markets, West Texas Intermediate (WTI) crude futures for June delivery touched $100 per barrel in electronic trade. Market sentiment was jolted after U.S. President Trump posted on social media on May 10 that Iran’s response to a de-escalation proposal was "totally unacceptable." As hopes for a diplomatic breakthrough dimmed, rising oil prices triggered active "safe-haven dollar buying." Meanwhile, investors are closely monitoring remarks from U.S. Treasury Secretary Bessent, who began a visit to Japan on May 11.

The euro stood at approximately 1.1750 dollars, up about 0.0008 dollars from the previous session.

Source: MINKABU PRESS

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

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