USDJPY Exchange Rate

Antipodean currencies such as Australia, the New Zealand and the Canadian dollars weakened against other major currencies in the Asian session on Friday, as Asian stock markets traded lower amid ongoing concerns over the tensions in the middle-east with reports of Israel retaliating to last weekend's attacks.

The Japanese yen strengthened against most major currencies in the Asian session on Friday.

The U.S. dollar appreciated against its major counterparts in the New York session on Thursday, as weekly jobless claims remained flat last week, indicating continued strength in the labor market.

A report released by the National Association of Realtors on Thursday showed a sharp pullback by existing home sales in the U.S. in the month March. NAR said existing home sales plunged by 4.3 percent to an annual rate of 4.19 million in March after surging by 9.5 percent to a rate of 4.38 million in February. Economists had expected existing home sales to slump to a rate of 4.20 million.

The market was roiled by unconfirmed reports of explosions in Iran, Iraq, and Syria, adding to the already tense atmosphere following Iran's recent attack on Israel over the weekend. Anticipation of potential retaliation from Israel contributed to heightened nervousness in the markets throughout the week.

Oil prices experienced a significant drop in the last session that was influenced by an accelerating build-up in U.S. crude inventories and concerns about oil demand.

The market's attention has shifted from Middle East tensions to remarks made by Federal Reserve Chair Jerome Powell. Powell's recent speech signals that the U.S. central bank may opt to maintain interest rates at elevated levels for an extended period, given the backdrop of robust economic indicators and surprisingly high inflation readings.

The Dollar Index (DXY) soared to finish above 106.0 (104.95) as geopolitical risks rose amidst hawkish Fed bets. News that Iran fired a huge salvo of missiles and drones toward Israel boosted the Greenback against its Rivals.