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Foreign exchange summary: Dollar trades near 159.00 yen as focus shifts to U.S.-Iran peace talks

Thu May 21, 2026 3:38 pm JST Currency

The dollar traded around 159.00 yen at 3:00 p.m. in Tokyo foreign exchange markets on the 21st, down about 6 sen from 5:00 p.m. the previous day. The euro fetched around 184.79 yen, up about 40 sen against the Japanese currency.

The dollar-yen pair traded at the 158.80 yen level at 9:00 a.m. before softening to around 158.78 yen shortly after 10:30 a.m. On the 20th, U.S. President Trump noted that negotiations with Iran were in their final stages, fueling optimism over peace talks and dragging West Texas Intermediate (WTI) crude futures down to the high-90 dollar per barrel range. Dollar selling and yen buying intensified as U.S. long-term yields declined. However, Trump also warned that attacks would resume if no agreement is reached, prompting the pair to recover to the 159 yen level in the afternoon amid lingering geopolitical uncertainty. Bank of Japan Policy Board member Junko Koeda stated at a meeting in Fukuoka Prefecture that it is important to address rising inflation, though market reaction remained muted.

The euro traded around 1.1621 dollars, up approximately 0.0030 dollars.

Source: MINKABU PRESS

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

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