The Japanese Yen rises against the USD, trading near 158.90 in Asian hours, supported by a decline in oil prices.
USD/JPY fell to around 158.90 during Asian trading on Monday, extending losses as the Japanese Yen gained support from declining oil prices. The pair opened with a bearish gap and remained in negative territory throughout the session.
The downward momentum follows a broader trend of Yen strength amid reduced energy costs, which typically ease inflationary pressures in Japan. Prior sessions saw the pair trading above 160, reflecting recent USD dominance before the shift.
No immediate market reaction was specified, but the move aligns with expectations of softer commodity prices influencing currency dynamics.