Dollar/yen fell to as low as 157.82 yen amid reports of talks toward ending the Middle East conflict, then rebounded into the 158 yen range.

【10/20Market Overview

Tokyo time, the dollar/yen rose to as high as158.60yen, but after-hours declines in the U.S. 10-year Treasury yields and a softening Nikkei 225 prompted a move down to158.03yen. In European trading, the dollar/yen traded in the lower- to mid-158s with little movement.NYtime, a report that discussions toward ending the war between the United States and Iran were near an agreement sparked a drop in crude oil futures and a decline in the U.S. 10-year yield, leading to broader dollar selling and a move to157.82yen. Later, a report that while talks between the U.S. and Iran continued, the notion that an agreement was near was incorrect sent the dollar/yen back up to158.27yen.

【10/21Market View