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U.S. forex market summary: dollar rises to 159.50 yen level amid Middle East uncertainty

Thu May 28, 2026 7:55 am JST Currency

The dollar-yen exchange rate in the New York foreign exchange market on May 27 closed at around 159.52 yen, up more than 0.20 yen from the previous day. The euro traded at around 185.47 yen, up approximately 0.20 yen against the Japanese currency.

Iranian state television reported on May 27 that it had obtained a draft memorandum aimed at ending the conflict with the United States. The draft reportedly outlined terms for Iran to restore commercial shipping through the Strait of Hormuz to pre-conflict levels within one month, in exchange for a U.S. military withdrawal from the region and the lifting of the naval blockade. While optimism over potential U.S.-Iran peace talks initially fueled a decline in U.S. crude oil futures and eased inflation fears?softening the dollar-yen pair to 159.25 yen at one point?the greenback rebounded sharply after the White House dismissed the report as "not factual and completely fabricated." This denial revived geopolitical uncertainty in the Middle East, sparking fresh dollar buying. The currency pair was further supported by a recovery in U.S. long-term interest rates, eventually hitting an intraday high of 159.58 yen.

The euro traded at around 1.1626 dollars against the dollar, down approximately 0.0005 dollars from the previous day.

Source: MINKABU PRESS

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

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