In the wake of reports of Israeli missiles causing a sharp yen drop against the dollar, a rebound pushed it back into the 154 yen range.

【4/19Market Overview

In Tokyo time, amid reports of missiles from Israel, risk-off momentum surged, and the dollar/yen fell to153.58yen. However, later it became clear from remarks by Iranian officials that there were no missile attacks from Israel and that the explosion sounds were due to drones being shot down, which reduced concerns about Middle East geopolitical risks, and the dollar/yen rapidly recovered to154.40yen level. During European time, the dollar/yen hovered around154yen in the mid-140s/mid-150s range.NY time, with no significant economic indicators released,4/25-26before the Bank of Japan monetary policy meeting154yen in the mid-140s/mid-150s range.