Business · Markets · 2 hrs ago
Yen falls to around 158.5 per dollar as oil prices rise
In early Tokyo trading on Oct.
13, the yen fell to 158.52–158.54 per dollar, down 19 sen from late the previous Friday.
Concerns about worsening tensions in the Middle East helped push oil prices higher, as traders worried energy shipments could be disrupted for a long time.
The Houthi movement and Saudi Arabia continued exchanging attacks, and the Houthis attacked Riyadh’s international airport on Oct.
10 and 11.
US President Donald Trump suggested the United States might join Saudi Arabia’s military campaign against the Houthis.
Higher oil prices raised concern that Japan’s trade deficit could grow, encouraging investors to sell yen and buy dollars; US crude reached $94.36 a barrel on Oct.
12, its highest level in two weeks.
The yen rose against the euro, which weakened amid doubts about the sustainability of France’s public finances.
The yen weakened to 158.52–54 per dollar in early Tokyo trading on October 13.
The rate was 19 sen weaker against the dollar than at the previous Friday’s 5 p.m. level.
Rising oil prices and concerns about a worsening Middle East situation increased worries about Japan’s trade balance.
The yen strengthened against the euro, while the euro weakened against the dollar.
- Who
- The yen weakened against the US dollar.
- What
- It traded at 158.52–54 yen per dollar in early Tokyo trading.
- When
- October 13, at 8:30 a.m. Tokyo time.
- Where
- The Tokyo foreign exchange market.
- Why
- Rising oil prices and concern that Japan’s trade deficit could widen encouraged yen selling and dollar buying.
This story does not have two clearly opposing sides.
US President Donald Trump suggested the United States might join Saudi Arabia’s military operation against the Houthis.
The Houthis attacked Riyadh’s international airport, according to the article.
WTI crude futures for November reached $94.36 a barrel, a two-week high.
The yen traded at 158.52–54 per dollar in early Tokyo trading.
- Yen-dollar rate
- 158.52–54 yen per dollar
- Change from Friday
- Yen was 19 sen weaker against the dollar
- WTI price
- $94.36 a barrel
- WTI contract
- November futures
- Yen-euro rate
- 176.89–91 yen per euro
- Euro-dollar rate
- $1.1158–59 per euro
Sources
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