| 09 Apr 2026 11:52 | | Yen rebounds toward 159 amid fragile truce dynamics | | | The Japanese yen depreciated toward the 159 per dollar mark, relinquishing prior-session gains as the US dollar and crude oil prices rebounded against the backdrop of persistent uncertainty surrounding the US–Iran ceasefire. While the announcement of a temporary truce initially compressed geopolitical risk premiums and supported the yen, the absence of sustained follow-through underscores market skepticism regarding its durability. Incremental support from Bank of Japan rate hike expectations—driven by elevated oil-induced inflation risks—remained insufficient to anchor the currency. Meanwhile, the dollar index stabilized near the 98.8 level, reflecting cautious positioning ahead of key US macroeconomic releases. Market participants now closely monitor upcoming PCE and CPI data for clearer direction on the Federal Reserve’s policy trajectory.
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