Upon President Trump's statement that an agreement is near, the dollar-yen rate briefly fell to as low as 159.55 yen.

【6/11Market Overview

In Tokyo time, the dollar/yen rose gradually amid growing tension in the Middle East,160.58yen to rise. However, restrained by expectations of yen-buying intervention, it then remained mostly range-bound around160.50yen. In European time, President Trump posted on his SNS that he would launch a fierce attack on Iran “as early as tonight,” and that he would seize Iran's oil export hubs on Awash or other oil-related infrastructure in the not-too-distant future, pushing crude oil futures higher and sending the dollar/yen to as high as160.59yen. NYtime, President Trump suspended the planned attack on Iran and said a deal was close, causing crude futures to fall, stocks to rise, and the dollar to weaken, with the dollar/yen dropping to as low as159.55yen.

【6/12Market Perspective