USD/JPY Falls 0.11% to 157.525 Yen on Middle East De-escalation Hopes; WTI Crude Plunges 5.69%

According to Yonhap Infomax, on August 5 in Tokyo trading, USD/JPY fell 0.11% to 157.525 yen as of 1:41 p.m. local time, with the pair hitting an intraday low of 157.299 yen. The dollar weakness was driven by easing Middle East tensions following U.S. Treasury Secretary Scott Bessent's statement on CNBC that negotiators are discussing opening the Strait of Hormuz, with potential for a deal "today or tomorrow."

WTI crude futures plunged 5.69% to $75.77 per barrel on the New York market, marking the second consecutive day of declines exceeding 5% and closing below $80 for the first time since July 28. The oil price collapse bolstered the yen by easing concerns over Japan's trade deficit expansion.