Oil and trade war impact dollar and yen

The dollar rose on Friday, supported by soaring US Treasury yields, approaching its highest level in 40 years against the Japanese yen. This occurred amidst escalating global trade tensions and rising oil prices, both of which heightened inflation concerns. The targeting of two Saudi oil tankers by Houthi militants in the Red Sea pushed Brent crude above $100 per barrel. Meanwhile, Washington announced tariffs on imports from 60 countries, adding pressure to the markets. Data also showed an increase in US 10- and 30-year bond yields, with expectations that the 30-year yield could reach 6%. The Japanese yen remained near its lowest levels since 1986, at 163.80 yen per dollar, amid US warnings about currency market volatility. Investors are now closely watching major central banks, especially the Federal Reserve, as they consider measures to combat inflation and address the fallout from trade tensions and oil market tensions.

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