Sumitomo Mitsui: The trend of a strong US dollar and a weak Japanese yen is expected to be reversed

According to Golden Ten Data on June 15, Hirofumi Suzuki, an analyst at Sumitomo Mitsui Banking Corporation, stated that with the US and Iran reaching a temporary peace agreement, the previous trend of a stronger US dollar and weaker yen may reverse. The chief foreign exchange strategist and head of the government bond research department said: "Although it is not yet clear whether the peace agreement document will actually be signed on the 19th, a future decline in crude oil prices could ease trade condition shocks. Overall, progress toward a peace agreement is expected to put appreciation pressure on the yen."