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U.S. forex market summary: dollar rises to 159.20 yen range on Fed rate hike speculation

Mon May 25, 2026 7:55 am JST Currency

The dollar closed at around 159.18 yen in New York on the 22nd, up about 20 sen from the previous day. The euro was virtually unchanged at around 184.71 yen, edging down about 1 sen.

The dollar dipped to 158.99 yen at one point as safe-haven buying unwound after U.S. Secretary of State Rubio noted "some progress" in Iran negotiations and ongoing contact with mediator Pakistan. However, the greenback rebounded as U.S. Treasury yields recovered, fueled by the University of Michigan's final May consumer sentiment index, which revised one-year and five-year inflation expectations upward. Comments from Federal Reserve Board Governor Waller hinting at potential rate hikes also spurred buying. The currency gained additional support from a rebound in U.S. crude oil futures on position adjustments, briefly touching 159.23 yen. Further upside was capped by a wait-and-see mood ahead of the Memorial Day holiday, with the U.S. bond market closing early and stock markets scheduled to shut the following Monday.

Against the greenback, the euro traded at around 1.1603 dollars, down about 0.0015 dollars from the previous day.

Source: MINKABU PRESS

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

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