The reversal point of the "dollar-buying during emergencies" is leading. The USD/JPY fell to as low as 157.88 yen.

【4/8Market Overview

During Tokyo time, if the United States and Iran reach an agreement on a two-week ceasefire, crude oil futures prices would plunge. In the currency market, the unwinding of safe-haven dollar buying occurs, and the USD/JPY falls to158.06yen. In European time, USD/JPY temporarily fell to157.88yen.NYtime, Iran continued to attack Israel and Gulf states after the U.S. ceasefire announcement, while the Israeli military pledged to continue attacks against pro-Iranian Hezbollah in Lebanon. Reports also stated that “due to Israel’s ceasefire violation, oil tankers passing through the Strait of Hormuz have stopped.” Meanwhile, the U.S. and Israel indicated that Hezbollah is not included in the ceasefire agreement, while Iran’s Ghalibaf Speaker of the Parliament claimed that “Hezbollah is included in the ceasefire agreement” and that “the ceasefire agreement with the United States has been violated.” Given the still unstable Middle East situation, USD/JPY was158.79yen, recovered to buy back.

【4/9Market View