TOKYO, Mar 28 (News On Japan) –
The yen weakened sharply, briefly falling past 160 to the dollar, as concerns grew that instability in the Middle East would persist and weigh on global markets.
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In New York’s foreign exchange market on March 27th, safe-haven demand for the dollar intensified amid geopolitical tensions, pushing the yen beyond the 160 threshold against the U.S. currency.
The level marks the weakest point for the yen since early July 2024, when the government and the Bank of Japan intervened in the currency market by buying yen and selling dollars.
Meanwhile, in the New York market, WTI crude oil futures rose sharply, climbing 5% from the previous day at one point to once again exceed $100 per barrel, reflecting heightened concerns over supply disruptions linked to the prolonged Middle East crisis.
Source: TBS
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