USD/JPY traded firmly up to around 157.85 yen in Tokyo morning trading, while crude oil prices rose in after-hours trading, weighing on the yen. As remarks by the US president and Iran's denial were reported, movements in foreign exchange and oil prices became closely linked.
USD/JPY traded firmly around 157.85 yen. Reports said that the United States had rejected Iran's proposal to reopen the Strait of Hormuz, and NY crude oil prices rose in after-hours trading, weighing on the yen.
In line with USD/JPY, EUR/JPY moved to around 179.72 yen, GBP/JPY to around 208.96 yen and AUD/JPY to around 110.78 yen as the yen weakened.
Views are spreading that a global fuel shortage is beginning to emerge, and conditions are expected in which Japan's energy concerns are likely to act as a factor pushing the yen back down.
US President Trump announced that he would resume indirect talks with Iran as early as this week, but Iran's Fars News Agency denied the claim.