The dollar-yen exchange rate remains narrow around 160 yen amid speculation that the United States and Iran want to assess the final agreement

【6/12Market Overview

In Tokyo time, the USD/JPY rose as the market speculated that President Trump announced Iran had obtained approval from Iran’s Supreme Leader for talks aimed at ending hostilities; however, Iran denied it. Heightened Middle East tensions renewed a safe-haven bid for the dollar, pushing it up to 160.37 at one point. In European trading, USD/JPY fell briefly to 159.95 amid expectations of intervention by Japanese authorities to support the yen.160.37円まで上昇。In New York time, USD/JPY traded with little movement around6/15-16as the Bank of Japan Policy Board meeting (6/15-16) and the FOMC meeting (6/16-17) approached, lingering around160.20.

【6/15Market View