Yen strengthens as Trump rules out Iran strikes before midterms
The yen firmed after President Trump said on Truth Social that the US would not attack Iran before the midterm elections, while the 10-year Treasury yield settled near 5.22%.
President Trump said on Truth Social that the United States would not attack Iran before the midterm elections, shifting near-term geopolitical sentiment. The Japanese yen strengthened against the dollar following the signal.
US Treasury yields remained elevated after the move. The 10-year yield closed near 5.22%, and earlier in the session it had reached its highest level since 2002.
For currency traders, the yen's advance and the high Treasury yield backdrop are the key takeaways from the update. The source post did not provide additional details beyond the headline developments.
Source: FXStreet Forex News