Forex summary: Dollar/yen rebounds to mid-160 yen range after previous day's losses
In the Tokyo foreign exchange market on June 12, the dollar traded at around 160.34 yen as of 3:00 p.m., down approximately 15 sen from 5:00 p.m. the previous day, representing a slight appreciation for the Japanese currency.
The greenback had temporarily plunged to 159.58 yen in New York on June 11 after U.S. President Donald Trump suggested a deal to end hostilities with Iran was close, unwinding safe-haven dollar demand. However, the currency rebounded to hit 160.35 yen just after 2:50 p.m. today as geopolitical uncertainty resurfaced. Iranian Foreign Ministry spokesperson Esmaeil Baghaei clarified that Tehran has not made a final decision on an agreement with the U.S. and would not compromise on its "red lines." Tensions were further stoked after the U.S. military shot down two Iranian one-way attack drones, keeping the Middle Eastern risk premium intact.
Meanwhile, the euro traded at around 1.1556 dollars, gaining just over 0.0010 dollars from 5:00 p.m. the previous day. Against the yen, the single currency stood at around 185.31 yen, up approximately 2 sen from the same reference point.
Source: MINKABU PRESS
*Translated by generative AI. Click here for the original article.
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