The US Dollar strengthened against the Japanese Yen on Friday, with the USD/JPY pair posting modest gains near 162.40 during Asian trading hours, according to FX Street.
This movement comes amid renewed US-Iran tensions, as the United States has launched a new wave of strikes against Iran for a sixth consecutive night, FX Street reported. The escalating conflict has contributed to increased demand for the US Dollar as a safe-haven currency.
Meanwhile, Japan has flagged the risk of market intervention to support the Yen, reflecting concerns over the currency's recent weakness. For Japanese investors, these developments underline the ongoing volatility in FX markets driven by geopolitical risks and central bank sensitivities.