Dollar/Yen fluctuated wildly in the 159 yen range amid Middle East situation reports.
【4/23Market Overview
During Tokyo time, rumors of an explosion in Iran caused crude oil prices to surge and the USD/JPY rose to159.68yen. After oil prices fell, USD/JPY dropped to159.29yen. In European trading, as uncertainty regarding the Middle East outlook grew, USD/JPY rose to159.78yen. Later, reports suggested that preparations for talks between Iran and the United States could advance tonight or tomorrow, and USD/JPY fell to159.31yen.NYTime, reports stated that “the speaker of Iran’s Parliament Gazoli would resign from his post overseeing negotiations to end the conflict,” raising concerns of renewed fighting between the United States and Iran, causing crude prices to surge, and the Dow Jones average to plummet, with safe-haven dollar buying in the currency market; USD/JPY rose toNYyen, and after reports that Israel denied attacking Iran, USD/JPY fell to159.84yen. Subsequently, USD/JPY dropped to159.46yen.
【4/24Market View