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Foreign exchange summary: Dollar remains firm in upper 158 yen range amid lingering Middle East uncertainty

Thu May 21, 2026 10:14 am JST Currency

The dollar traded around 158.86 yen in Tokyo as of 10:00 a.m. on May 21, down about 20 sen from 5:00 p.m. the previous day, as the yen strengthened against the greenback.

In New York on May 20, the dollar-yen pair closed around 158.92 yen, down about 15 sen from the previous day's close. Expectations for an end to U.S.-Iran hostilities dragged down U.S. crude oil futures and long-term interest rates, pushing the dollar to 158.60 yen at one point.

However, uncertainty over the Middle East persisted after U.S. President Trump warned on May 20 that "negotiations with Iran are in their final stages, but if no agreement is reached, attacks will resume." The greenback also drew support from the minutes of the April Federal Open Market Committee (FOMC) meeting released the previous day, which showed many officials remained open to potential interest rate hikes. Consequently, the dollar has traded firmly in the 158.80 yen range in Tokyo.

The euro fetched around 1.1629 dollars, up about 0.0040 dollars from 5:00 p.m. the previous day. Against the yen, the single currency traded around 184.74 yen, up about 35 sen.

Source: MINKABU PRESS

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

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