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U.S. forex market summary: Dollar softens to 159.10 yen range on progress in U.S.-Iran talks

Fri May 29, 2026 7:55 am JST Currency

The dollar fell nearly 30 sen against the yen to close around 159.24 yen in New York on Thursday, while the euro edged up about 6 sen to finish around 185.53 yen.

The greenback faced downward pressure after the April U.S. Personal Consumption Expenditures (PCE) price index rose 3.8% year-on-year, acceleration from March's 3.5% increase. An uptick in weekly initial jobless claims and a downward revision to first-quarter real Gross Domestic Product (GDP) data also capped the dollar's upside. Momentum shifted further when U.S. news outlet Axios reported that the United States and Iran agreed to a 60-day ceasefire extension and a memorandum to discuss Iran's nuclear program. The report sparked dollar selling on renewed optimism over diplomatic progress, while U.S. crude oil futures faltered. Driven by a slide in U.S. Treasury yields, the dollar-yen pair touched an intraday low of 159.12 yen.

Against the dollar, the euro traded around 1.1651 dollars, up approximately 0.0025 dollars from late Wednesday, capitalizing on the broader weakness of the U.S. currency.

Source: MINKABU PRESS

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

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