Business · Markets · 3 hrs ago
Yen weakens to 158 per dollar as oil prices rise
The yen weakened in early Tokyo trading on Oct.
16, trading at 158.11–12 per dollar at 8:30 a.m.
local time.
That was 25 sen weaker against the dollar than at 5 p.m.
the previous day.
Higher oil prices added pressure on the yen because they raised concerns that Japan’s trade balance could worsen.
Oil rose amid fears of a sharper Middle East crisis after CNN reported that the United States might attack Iranian energy infrastructure or nuclear facilities.
The yen also fell against the euro, trading at 177.29–31 yen per euro.
Its decline against the dollar was limited as falling US long-term interest rates encouraged some yen buying, while investors sought the relative safety of US government bonds amid concerns about AI companies’ debt and returns on investment.
The yen weakened to 158.11–12 per dollar in Tokyo trading at 8:30 a.m. on October 16.
The currency fell 25 sen against the dollar from its level at 5 p.m. the previous day.
Nikkei said concern that higher oil prices could worsen Japan’s trade balance weighed on the yen.
The yen also weakened against the euro, trading at 177.29–31 yen per euro.
Lower US long-term interest rates supported some yen buying and limited the currency’s decline.
- Who
- The yen weakened against the US dollar and the euro.
- What
- It traded at 158.11–12 yen per dollar and 177.29–31 yen per euro.
- When
- At 8:30 a.m. on October 16, 2026.
- Where
- The Tokyo foreign exchange market.
- Why
- Higher oil prices raised concern about a worsening Japanese trade balance. Lower US long-term interest rates also supported yen buying.
This story does not have two clearly opposing sides.
CNN reported that the United States might attack Iranian energy infrastructure or nuclear facilities.
US crude futures rose amid concern about heightened tensions in the Middle East, with WTI reaching $98.32 a barrel.
The yen traded at 158.11–12 per dollar in the Tokyo foreign exchange market.
- Dollar exchange rate
- 158.11–12 yen per dollar
- Change against dollar
- 25 sen weaker than at 5 p.m. the previous day
- Euro exchange rate
- 177.29–31 yen per euro
- WTI high
- $98.32 a barrel
- US 10-year Treasury yield
- 5.03% at one point on October 15