U.S. forex market summary: dollar rises to 159.70 yen range on concerns over stalled U.S.-Iran negotiations
The dollar closed near 159.66 yen in New York on Monday, up approximately 0.40 yen from its previous weekend close. The euro stood around 185.70 yen, up about 0.03 yen against the Japanese currency.
Geopolitical risks intensified after Iran's semi-official Tasnim News Agency reported on Monday that Tehran's negotiating team had suspended indirect message exchanges with the United States through mediators over Israeli military operations in Lebanon. The report fueled concerns that peace talks have stalled and that the normalization of transit through the crucial Strait of Hormuz will be delayed, driving U.S. crude oil futures higher. The energy spike pushed U.S. long-term Treasury yields upward on mounting inflation fears, triggering broad dollar buying. Further boosting the greenback, the U.S. Institute for Supply Management (ISM) manufacturing PMI for May hit a three-year high of 54.0%, providing solid fundamental backing and lifting the dollar-yen rate to a session high of 159.76 yen.
Against the greenback, the euro traded around 1.1631 dollars, down roughly 0.0030 dollars from the previous week's finish.
Source: MINKABU PRESS
*Translated by generative AI. Click here for the original article.
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