0330 GMT - The yen is likely to stay weak regardless of the Middle East situation, says Sumitomo Mitsui Trust Asset Management economist Kei Fujimoto. "Even if the Iran conflict de-escalates, oil prices are likely to remain elevated amid ongoing supply constraints," Fujimoto says. "Concerns over fiscal deterioration and a weaker trade balance are expected to persist, making a near-term reversal towards yen appreciation difficult." Given that current weakness of the yen is driven by economic fundamentals rather than speculation, the effectiveness of currency intervention might be limited, the economist adds. The yen hovers near 160 against the dollar, a key intervention danger zone. (megumi.fujikawa@wsj.com)
(END) Dow Jones Newswires
April 26, 2026 23:30 ET (03:30 GMT)
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