Business · Markets · 5 hrs ago
Yen ends flat near 158 per dollar as oil prices offset support
The yen ended nearly unchanged at about 158 per dollar in New York, matching the previous day's close.
Fading expectations of an early US interest-rate increase supported the yen, as lower rates can weigh on the dollar.
A fall of more than 2% in the Nasdaq also encouraged investors to buy the yen, which is often treated as a lower-risk currency.
Higher oil prices pushed the other way: US crude briefly climbed above $101 a barrel, its highest level in about a month.
Because Japan relies on imported energy, costly oil can worsen its trade balance and put pressure on the yen.
Rising US long-term interest rates also weighed on the Japanese currency.
The yen traded between 157.70 and 158.33 per dollar during the session.
The yen ended flat against the dollar in New York on October 16, trading at 157.95 to 158.05 yen per dollar.
Fading expectations of an early US interest-rate increase and falling US stocks supported the yen.
Higher oil prices weighed on the currency, amid concerns about Japan’s energy-import costs.
The yen’s session range was 157.70 to 158.33 per dollar.
- Who
- The yen and the US dollar.
- What
- The yen ended the New York session flat against the dollar, at 157.95 to 158.05 yen per dollar.
- When
- October 16, 2026.
- Where
- The New York foreign exchange market.
- Why
- Reduced expectations of an early US rate increase and falling US stocks supported the yen, while higher oil prices put pressure on it.
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This story does not have a timeline yet.
- Closing rate
- 157.95 to 158.05 yen per dollar
- Session high
- 157.70 yen per dollar
- Session low
- 158.33 yen per dollar
- WTI price
- Briefly rose to the high 101-dollar range per barrel
- Nasdaq decline
- More than 2% on October 16
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