USD/JPY Falls 0.06% to 162.42 Yen on July 9 as Dovish Fed Minutes Offset Geopolitical Tension

USDJPY-0.19%
According to Yonhapinfomax, the USD/JPY exchange rate fell 0.06% to 162.42 yen at 2:01 p.m. Tokyo time on July 9. Initial dollar strength following escalated US-Iran tensions, with President Trump stating on July 8 that a truce agreement with Iran had ended and the U.S. Central Command announcing additional military action, was later offset by dovish interpretations of the June FOMC minutes. The minutes suggested fewer Fed officials favored rate hikes than expected, weighing on dollar strength. Easing oil price gains in Asian trading also supported yen buying pressure, with WTI crude reversing earlier 2% gains to advance just 1%.
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