Yen Firms Up as Oil Prices Drop

2026-03-10 02:07 By Jam Kaimo Samonte 1 min. read

The Japanese yen strengthened to around 157.6 per dollar on Tuesday after weakening to nearly 159 in the previous session, as falling energy prices eased pressure on the country’s oil-importing economy.

The yen also gained from the dollar’s retreat, with hopes for a swift end to the Iran war reducing safe-haven demand for the greenback.

Trump said the US military operation in Iran is nearing its conclusion and running well ahead of the initial four- to five-week estimated timeframe.

He also signaled plans to waive oil-related sanctions and have the US Navy escort tankers through the Strait of Hormuz to help keep oil prices in check.

In Japan, fourth-quarter GDP growth was revised upward to 0.3% from an initial 0.1%, supported by strong domestic demand.

Earlier data also showed real wages rose for the first time in 13 months, reinforcing the Bank of Japan’s case to continue normalizing monetary policy and providing the government flexibility to pursue its key policy objectives.



News Stream
Yen Firms Up as Oil Prices Drop
The Japanese yen strengthened to around 157.6 per dollar on Tuesday after weakening to nearly 159 in the previous session, as falling energy prices eased pressure on the country’s oil-importing economy. The yen also gained from the dollar’s retreat, with hopes for a swift end to the Iran war reducing safe-haven demand for the greenback. Trump said the US military operation in Iran is nearing its conclusion and running well ahead of the initial four- to five-week estimated timeframe. He also signaled plans to waive oil-related sanctions and have the US Navy escort tankers through the Strait of Hormuz to help keep oil prices in check. In Japan, fourth-quarter GDP growth was revised upward to 0.3% from an initial 0.1%, supported by strong domestic demand. Earlier data also showed real wages rose for the first time in 13 months, reinforcing the Bank of Japan’s case to continue normalizing monetary policy and providing the government flexibility to pursue its key policy objectives.
2026-03-10
Yen Extends Fall on Surging Oil Prices
The Japanese yen depreciated past 158.5 per dollar on Monday, hitting six-week lows as oil topped $100 a barrel amid concerns that a prolonged Middle East conflict could disrupt global energy supplies, weighing on oil-dependent economies. The US-Israeli war with Iran entered its second week with no resolution in sight, while major oil producers in the Middle East have been curbing production as shipments through the Strait of Hormuz remain halted. Japan relies on the Middle East for around 95% of its oil supplies with about 70% coming via the Strait of Hormuz, making the country particularly vulnerable to oil shocks. The government is considering tapping part of its national oil reserves as the Iran crisis continues. The yen was further pressured by a strengthening dollar, which benefited from its safe-haven appeal and revised expectations for Federal Reserve policy.
2026-03-09
Yen Heads for Third Weekly Fall
The Japanese yen traded around 157.5 per dollar on Friday, on track for its third consecutive weekly decline, pressured by the dollar’s strength as investors sought the reserve currency amid the escalating Middle East conflict. The US-Israeli offensive against Iran has now entered its seventh day, while Tehran launched a fresh wave of missile and drone strikes across the Gulf. The yen also faced headwinds from soaring oil prices, reflecting Japan’s heavy reliance on Middle East energy imports. Bank of Japan Governor Kazuo Ueda warned that the conflict could significantly affect Japan’s economy, signaling a likely prolonged hold on interest rates. Meanwhile, Finance Minister Satsuki Katayama said this week currency market intervention remains an option to support the yen, emphasizing that authorities are monitoring the decline “with a strong sense of urgency” and coordinating closely with the US.
2026-03-06