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Dollar nears seven-month low against yen

The US dollar traded near a seven-month low against the yen as oil prices settled above one hundred dollars a barrel amid an escalating conflict in the Middle East. Investors also positioned themselves ahead of upcoming central bank policy decisions.

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U.S. dollar, Euro, Yen and Pound banknotes are seen in this illustration taken May 4, 2025. REUTERS/Dado Ruvic/Illustration

The USD/JPY fell to a seven-month low near 153.65 on Wednesday as Brent Crude Oil surged past $101 a barrel amid escalating Middle East conflicts. The drop reflects intense downward pressure from the Japanese currency's recent gains and shifting monetary expectations. Markets are currently bracing for upcoming policy decisions from the Federal Reserve and Bank of Japan.
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