Yen Steadies Above 159.00 as Markets Await US Inflation Report

The Japanese Yen (JPY) has stabilized above 159.00 on Tuesday after several days of US Dollar (USD) strength following a brief intervention that boosted the Yen.

However, the pair is facing pressure from elevated Oil prices and a firm US Dollar.

The focus remains in the Middle East as Iran's Security Chief Mohsen Rezai outlined the country's conditions for de-escalation, including an end to threatening language, military attacks, and economic sanctions.

Iran also demands the unconditional release of frozen funds and assets abroad.

This week's key event is Wednesday's US Consumer Price Index (CPI) release, which will provide insight into US inflation and potentially temper Federal Reserve rate hike bets.