There are concerns that the truce agreement talks are stalling, leading to a continued rise in USD/JPY for the third day.
【3/26Market Overview
Tokyo time, with “safe-haven dollar buying” in the backdrop, and the yen also weakening as crude oil futures rise, USD/JPY breached the previous high of 159.50159.50yen159.54yen to reach as high as 159.54. In European trading, as concerns mounted that talks toward a ceasefire among the US, Israel, and Iran would be difficult, trading activity was mixed, and USD/JPY hovered around the mid-159s for a while.159yen level159.69yen by the end of the session.NYtime, USD/JPY was briefly159.84yen. When President Trump signaled that talks with Iran were ongoing and progressing very smoothly, and that the deadline to attack Iranian energy facilities could be extended by4 months6days, crude futures plunged and dollar selling intensified, with USD/JPY temporarily159.34yen18yen higher soon after, being bought back to the upper 159s.
【3/27Market View