The yen slipped to 159.80 to the dollar, not ​far from multi-decade troughs and levels that drew intervention in 2024. Trump said on Monday Iran could be "taken out" in one night "and that night might be tomorrow night." Iran and Israel traded attacks on Tuesday as Tehran refused to reopen the Strait of Hormuz. "The dollar may ease modestly further in the near term because ⁠of optimism ​the US will 'end' the Iran war," said Commonwealth Bank of Australia analysts in a ​note. What matters for the world economy and currencies is whether the Strait of Hormuz is ​open.

Source: The Edge Markets April 07, 2026 10:23 UTC