USD/JPY slips for the first time in five days as expectations improve for safe passage through the Hormuz Strait.
【3/16Market Overview
In Tokyo time, the dollar/yen fell to around159.74yen briefly as crude oil futures prices rose during after-hours trading. Subsequently, as crude oil prices declined, it fell to around159.26yen, reacting to the oil price movement. In European time, transportation through the important oil shipping route, the Strait of Hormuz, remains almost halted, but reports say some ships have begun to pass through the strait, and crude oil futures briefly1barrel =92dollars,NYDow Jones futures surged, and in the currency market, a reversal of the recent “safe-haven dollar buying” was underway.NYtime, the dollar/yen briefly158.85yen, but after selling subsided, it showed some steadiness, and buying followed as crosses like euro/yen rose,159.35yen was bought back.
【3/17Market View
