Original Source
Dollar-Yen Fluctuates Wildly in NY Forex Market Amid Iran War Uncertainty
Dollar-Yen Rises Amid Iran War Uncertainty
On May 24, the dollar-yen exchange rate in the New York forex market initially surged to 159.19 yen before retracting to 158.37 yen, ultimately closing at 158.54 yen. The uncertain outcome of the Iran War and a renewed rise in crude oil prices fueled a resumption of dollar buying, driven by rising long-term interest rates. Subsequent reports of a disappointing US 2-year Treasury auction and plans for US additional troop deployments to the Middle East intensified fears of a prolonged conflict, further pushing up interest rates and accelerating dollar purchases.
Dollar-Yen Reverses Course with Oil Price Decline
Towards the close of trading, reports of a potential one-month ceasefire with Iran led to a drop in crude oil prices, causing the dollar-yen exchange rate to reverse its gains. Meanwhile, the euro-dollar exchange rate climbed from 1.1557 dollars to 1.1628 dollars, closing at 1.1619 dollars. The euro-yen rate also increased from 183.81 yen to 184.19 yen. The pound-dollar rate initially fell to 1.3352 dollars before rising to 1.3432 dollars, and the dollar-Swiss franc rate, after reaching 0.7925 francs, declined to 0.7871 francs.
*Source: Yahoo!ファイナンス (2026-03-24)*
