Japanese Yen: Weakens against Dollar on inflation focus – MUFG
MUFG’s Teppei Ino reviews recent USD/JPY performance, noting that the pair opened at 156.86 and rose toward 158.50 as the Dollar strengthened on difficult US-Iran negotiations, higher crude oil prices and renewed inflation concerns.
Dollar strength drives Yen weakness
"The USD/JPY opened the week at 156.86."
"The pair moved into the 157 range and then continued to rise in stages as the dollar strengthened following weekend reports that negotiations between the US and Iran were proving difficult."
"US Treasury Secretary Scott Bessent held talks with Prime Minister Sanae Takaichi, Finance Minister Satsuki Katayama, and other officials on 12 May during his visit to Japan, but his comments were measured and did not prompt a major market reaction."
"Rates in Japan and the US rose after US President Donald Trump and Chinese President Xi Jinping concluded their summit in Beijing on 15 May, amid higher crude oil prices and renewed inflation concerns."
"The USD/JPY had risen to around 158.50, its highest level since 30 April, at the time of writing on 15 May."
(This article was created with the help of an Artificial Intelligence tool and reviewed by an editor.)
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