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Yen Rallies After Attack on Two Oil Tankers in Gulf of Oman

June 13, 2019 at 12:05 by Vladimir Vyun

Some yen notes and coinsThe Japanese yen rallied today after two oil tankers were supposedly attacked in the Gulf of Oman, leading to a surge of risk aversion on markets. Currently, the currency has trimmed its gains.

According to reports, the ships were supposedly attacked with “some sort of shell”. Japan’s Ministry of Economy, Trade and Industry said that both tankers were carrying “Japan-related cargo”. Iran’s Foreign Minister Mohammad Javad Zarif said “suspicious doesn’t begin to describe” the incident, considering that it happened just as Japan’s Prime Minister Shinzo Abe was meeting Iran’s Supreme Leader Ayatollah Ali Khamenei.

USD/JPY declined from 108.50 to 108.42 as of 12:04 GMT today, touching the low of 108.16 intraday. EUR/JPY was about flat at 122.45 after falling to 122.17 earlier.

If you have any questions, comments, or opinions regarding the Japanese Yen, feel free to post them using the commentary form below.

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