The Japanese yen weakened beyond 159 per dollar on Thursday, heading for a third consecutive weekly decline as investors closely monitored the critical 160 level, a zone historically linked with intervention by Japanese authorities. Despite strong domestic data showing exports surged 14.8% in April on robust demand from China, the U.S., ASEAN economies, and the European Union, the yen remained under pressure against a resilient dollar. Markets also continued to weigh expectations of another potential Bank of Japan rate hike in the coming weeks. Meanwhile, the U.S. dollar index hovered near 99.1, staying close to a six-week high as easing Middle East tensions supported sentiment after President Donald Trump signaled that negotiations with Iran were in their final stages, while warning of further attacks if talks fail. President Donald Trump said the US was in the final stages of negotiations with Iran, raising expectations that the strategically important Strait of Hormuz could soon reopen.
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