Yen Falls To 163.96 Per Dollar As Dollar Strengthens

The yen briefly weakened to 163.96 per dollar in New York forex trading on July 23, a fresh low, as Middle East tensions and rising international oil prices weighed on the currency. According to Jiemian News, analysts said the sustained strain in the Middle East has lifted oil prices, heightened inflation concerns, and increased investor expectations that the U.S. will raise rates earlier than expected, supporting the dollar and adding pressure on the yen.