Yen holds steady as dollar surges on Middle East fear and safe haven demand

Traders watch oil moves to predict yen’s next move

Currency markets are treading carefully as Middle East tensions continue to rattle risk appetite and lift safe-haven demand. The yen steadied following suspected intervention, while the dollar firmed as investors favored safety. Attention is now on Australia’s central bank decision, where a widely expected rate hike could shape broader sentiment. For the yen, oil prices and conflict outcomes are key.