London/New York, March 6 (Jiji Press)–The dollar briefly rose above 158 yen in London on Friday, hitting the highest level since Jan. 23. At 12:30 p.m., the U.S. currency stood at 157.92-158.02 yen, up 0.37 yen from 4 p.m. Thursday. The greenback attracted buying as a safe-haven asset due to rising crude oil prices amid heightened tensions in the Middle East. The crude price spike reflected growing concerns over energy supply disruptions because Iran’s retaliation following the U.S.-Israeli strikes on the country expanded conflict areas, leading tankers to remain unable to pass through the Strait of Hormuz, a critical waterway for global energy transportation, market sources said. On the New York Mercantile Exchange on Friday, the benchmark crude oil futures contract shot up to briefly exceed 89 dollars per barrel, posting the highest level since October 2023. END [Copyright The Jiji Press, Ltd.]
Dollar Briefly Tops 158 Yen in London
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