Iran reportedly rejects the U.S. proposal, leading to early dollar buying in times of crisis.

【5/7Market Overview

In Tokyo time, the USD/JPY briefly fell to156.02yen, but was supported by a sharp rise in Japanese stocks and rebounded to156.40yen. Finance Minister Shunichi Suga? (Suganuma?) said that the IMF's intervention rules are not limited in number, but the reaction was limited. In European hours, as negotiations between the US and Iran toward ending hostilities progress and crude oil futures prices fall, there was selling of the dollar, bringing it back to156.02yen, matching the low reached in Tokyo time.NYtime, The Wall Street Journal (WSJ) reported that “Iran rejected the US proposal regarding the Hormuz Strait as unrealistic” and “the US is considering resuming escorting ships in the Hormuz Strait this week,” causing crude futures to rise and, with U.S. 10-year Treasury yields rising, broad dollar buying led USD/JPY to100? yields? (Likely 10-year yields) rise, pushing dollar higher to156.95yen.

【5/8Market Outlook