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The Economic Times

Yen stands tall as dollar wobbles, oil's run towards $100 chills sentiment

Oil United States Inflation Japan Japanese Yen the Middle East US Federal Reserve

The Japanese yen steadied near its strongest level since February on Wednesday, keeping the dollar on the defensive as traders grappled with oil prices pushing towards $100 per barrel in the face of a widening war in the Middle East.

Iranian-backed Houthis in Yemen launched strikes on several Saudi cities, further embroiling a U.S. ally in the over six-month-long conflict, while U.S. forces hit multiple Iranian oil tankers and Iran targeted a U.S. base in Jordan.

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One subscription that gives you access to news from hundreds of sites

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