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Dollar-yen expected to hold steady amid U.S. market holiday
The dollar-yen exchange rate is expected to see a cautious trading stance from tonight through tomorrow, as U.S. and other markets remain closed for holidays. The anticipated range is 158.60 to 159.30 yen per dollar.
As expectations grew for progress in the Iranian situation, crude oil prices declined, triggering an unwinding of "safe-haven dollar buying" and temporarily pushing the pair lower to the 158.70 yen level. During the European trading session in the evening, the rate recovered to around the 159.00 yen level. Tonight, U.S. markets are closed for Memorial Day. With the U.K. also closed for a bank holiday and limited market participation, trading is expected to remain subdued with a wait-and-see attitude. Focus will likely be on whether there are any new developments regarding the Iranian situation.
Source: MINKABU PRESS
*Translated by generative AI. Click here for the original article.
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