Mumbai, April 9 -- The Japanese yen depreciated toward the 159 per dollar mark, relinquishing prior-session gains as the US dollar and crude oil prices rebounded against the backdrop of persistent uncertainty surrounding the US-Iran ceasefire. While the announcement of a temporary truce initially compressed geopolitical risk premiums and supported the yen, the absence of sustained follow-through underscores market skepticism regarding its durability. Incremental support from Bank of Japan rate hike expectations-driven by elevated oil-induced inflation risks-remained insufficient to anchor the currency. Meanwhile, the dollar index stabilized near the 98.8 level, reflecting cautious positioning ahead of key US macroeconomic releases. Market...
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