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Yen Stands Tall as Dollar Wobbles, Oil's Run Towards $100 Chills Sentiment
Brent crude rose 1.48% to $99.37 a barrel as Middle East fighting lifted the yen and kept the dollar under pressure, traders said.
- On Wednesday, the Japanese yen steadied near its strongest level since February as Brent crude futures surged over 1.48% to $99.37 per barrel amid escalating Middle East conflict.
- Iranian-Backed Houthis in Yemen launched strikes on Saudi cities, while U.S. forces hit multiple Iranian oil tankers and Iran targeted a U.S. base in Jordan, deepening the over six-month-long conflict.
- The yen gained 4% in September, shifting the popular carry trade calculus as the Japanese currency strengthened against the euro and sterling alongside carry-trade targets like the Mexican peso and Turkish lira.
- Aninda Mitra, head of Asia macro and investment strategy at BNY Investments, noted "much depends on the market's pricing of the Fed's trajectory of interest rates as well." Traders expect the BOJ to raise rates by 25 basis points at its September 17–18 meeting.
- Friday's U.S. inflation report will set the stage for central bank meetings next week involving the Federal Reserve and Japan, with market direction hinging on policy confirmation amid geopolitical uncertainty.
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Yen stands tall as dollar wobbles, oil's run towards $100 chills ...
·London, United Kingdom
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Brent Crude Oil Prices Near $100 as U.S.-Iran Tensions Threaten Gulf Supplies
Noida, Sep 9 (APAC Media): Crude oil prices extended their gains in Asian trading on Wednesday, with Brent crude nearing the $100-a-barrel mark as rising tensions between the United States and Iran fuelled concerns over possible disruptions to oil supplies and shipping in the Gulf. Brent crude futures for November delivery rose 1.4% to $99.32 […] The post Brent Crude Oil Prices Near $100 as U.S.-Iran Tensions Threaten Gulf Supplies first appeare…
Singapore: Today, the Japanese yen settled near the strongest level since February, keeping the dollar in a defensive position while customers faced a rise in oil prices to about $100 a barrel in the middle of a war in the Middle East.
Coverage Details
Total News Sources11
Leaning Left1Leaning Right2Center3Last UpdatedBias Distribution50% Center
Bias Distribution
- 50% of the sources are Center
50% Center
L 17%
C 50%
R 33%
Factuality
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