Yen Nears Intervention Zone as Dollar Rises on Iran Tensions
Yen Slides Toward Intervention Zone as Iran War Tensions Lift Dollar
The yen fell to its weakest level in nearly four weeks, edging closer to levels that prompted Japanese authorities to intervene last month, as investors assessed renewed tensions in the Iran war.
Yen Nears Key 160 Level
The yen dropped 0.14% to 159.51 per dollar, its weakest since April 30. Traders widely see the 160 mark as a key trigger for intervention. Eugene Epstein of Moneycorp expects the market to test the Bank of Japan again.
Dollar Steadies on Safe-Haven Demand
President Trump said the U.S. and Iran still have issues to resolve. The safe-haven dollar extended gains from the prior session. The euro and pound edged lower.
Kiwi Shines After Hawkish RBNZ
The New Zealand dollar outperformed after the central bank struck a hawkish tone. The Australian dollar slipped as inflation cooled.
Impacted Symbols
Symbols affected by this headline and their sentiment signals
US Dollar/Japanese Yen
The yen weakened to 159.51 per dollar, approaching the 160 level, increasing the likelihood of Japanese intervention. The yen's depreciation is directly highlighted in the news.
Euro/US Dollar
The euro edged lower against the dollar ($1.163125). Although the decline is mentioned, the impact is limited and indirect.
British Pound/US Dollar
Sterling fell 0.11% to $1.34320 against the dollar. The impact in the news is limited and indirect.
USD/CHF
The dollar rose 0.13% to 0.7866 against the Swiss franc. The impact in the news is limited and indirect.
U.S. Dollar Currency Index
The dollar index was flat due to safe-haven demand from Iran war tensions and is on track for a second straight gain. Directly impacted in the news.
NZD/USD
The New Zealand dollar rallied 1.11% after RBNZ's unexpectedly hawkish stance and rate hike signals. Directly and strongly impacted in the news.
AUD/USD
The Australian dollar slipped 0.35% as April inflation cooled to 4.2%. Directly impacted in the news.
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