Overview
- Japan’s currency slid to as weak as 160.42 per dollar in New York trading Friday, marking the softest level since July 2024.
- Investors moved into the dollar, which many treat as safer in crises, after reports of Israeli strikes in Iran and U.S. media reports of Iranian missile fire kept tensions high.
- Oil benchmark WTI jumped toward $100 a barrel Friday, which fed inflation worries and knocked U.S. stocks, with the Dow closing down 793 points.
- Rising U.S. long‑term interest rates widened the gap with Japan’s rates, making dollar holdings more attractive and adding pressure on the yen.
- Finance Minister Satsuki Katayama said Japan is ready to take decisive measures, and traders recalled July 2024 when authorities bought yen to steady the market.