The Japanese Yen weakens as the Dollar rallies on stalled US-Iran talks, rising oil prices, and renewed inflation concerns.
The USD/JPY pair climbed to 158.50, its highest level since April 30, as the Dollar strengthened against the Yen. The move followed reports of difficult US-Iran negotiations and rising crude oil prices, which fueled inflation concerns.
Earlier in the week, the pair opened at 156.86 and rose steadily through the 157 range. US Treasury Secretary Scott Bessent’s visit to Japan on May 12 drew attention but did not trigger significant market shifts.
The rally accelerated after US and Chinese leaders concluded a summit on May 15, with higher oil prices and inflation fears driving rates higher in both Japan and the US.