Dollar-Yen Rate Rises 0.03% to 162.488 Yen Amid U.S.-Iran Tensions on July 21

According to Yonhap Infomax, the dollar-yen exchange rate rose 0.03% to 162.488 yen on the Tokyo market on July 21, at 1:42 p.m. local time, with the pair opening at 162.555 yen.

The yen weakened as escalating U.S.-Iran tensions drove safe-haven demand into dollars, following U.S. President Donald Trump's warning of severe retaliation for each American military casualty. Japanese importers' demand to sell yen and buy dollars also pressured the currency, with settlement orders piling up after July 20's market holiday in Japan. Risk appetite in stocks partially offset yen weakness, as the Nikkei index recovered nearly 3% intraday.