Dollar-yen trades with slight moves around the 158 yen level ahead of peace talks.

【4/20Market Overview

During Tokyo time, the dollar/yen rose on concerns that the Strait of Hormuz had been closed again over the weekend and that Iran's state-run news agency reported that “Iran refused to participate in a second round of talks with the United States.” As crude oil futures climbed, the pair briefly reached159.20yen. It then traded mainly in the upper 150s. During European hours, dollar/yen held around the158yen area with little movement. In New York time, optimistic speculation that talks between the United States and Iran would progress led to selling pressure, sending dollar/yen down to158.55yen. Afterward, aided by a rise in the cross yen, it was bought back up to158.92yen.

【4/21Market View