With the easing of expectations for Middle East tensions, the USD/JPY rose to the mid-158 yen range.

【8/6Market Overview

In Tokyo time, USD/JPY softened as the Nikkei average weakened, briefly157.55yen to push down, but as dollar buying around the fixing and a narrowing decline in the Nikkei occurred,157.85yen climbed. In European time, with no fresh catalysts for USD/JPY, it remained in the high 157s with little movement.NYtime, some reports stated that Iran plans to prohibit passage of U.S. and Israeli vessels through the Strait of Hormuz and would seek compensation before allowing use of the strait by adversaries, dampening expectations for Middle East tensions to ease. Crude oil futures rose, and USD/JPY rose past158yen to158.55yen.

【8/7Market View