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Japanese Yen: Energy shock and Japan policy risks – MUFG

MUFG’s Lee Hardman notes USD/JPY is holding just below year-to-date highs as a negative energy price shock weighs on the Japanese Yen. Rising Brent prices linked to US–Iran tensions and Houthi threats to shipping highlight global supply risks.

FXStreet — Commodities Jul 21, 2026 1 min read

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Japanese Yen: Energy shock and Japan policy risks – MUFG

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