Tokyo forex: Dollar briefly recovers to 160.21 yen amid lingering Middle East uncertainty
The dollar stood around 160.17 yen at 10:00 a.m. in Tokyo on June 12, down over 30 sen from late Thursday.
In New York trading on June 11, the dollar ended around 159.93 yen, down over 60 sen from the previous session amid broad selling. The greenback softened to as low as 159.58 yen after U.S. President Donald Trump announced he called off a planned strike on Iran and suggested a ceasefire agreement was near.
However, the dollar showed resilience in Tokyo trading today. Iranian Foreign Ministry spokesman Baghaei said on June 11 that Iran had not reached a final decision on a potential deal with the United States and would not compromise on its "red lines," leaving uncertainty over the Middle East and keeping underlying dollar demand firm. A sharp rise in the Nikkei share average also encouraged risk-on buying, pushing the dollar to a brief high of 160.21 yen around 9:40 a.m.
The euro traded around 1.1569 dollars, up about 0.0025 dollars from late Thursday. Against the yen, the euro stood around 185.31 yen, up about 2 sen from the previous close.
Source: MINKABU PRESS
*Translated by generative AI. Click here for the original article.
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