Mumbai, July 13 -- The Japanese yen weakened above 162 per dollar on Monday, reversing the previous session's gains as renewed US-Iran hostilities boosted demand for the US dollar and pushed oil prices higher. Japan's heavy reliance on crude imports from the Middle East left the currency particularly vulnerable to rising energy prices, while a stronger dollar, supported by safe-haven demand, added further pressure on the yen. Investors are now turning their attention to this week's US inflation data and Fed Chair Kevin Warsh's congressional testimony for fresh clues on the Federal Reserve's interest-rate outlook.

Published by HT Digital Content Services with permission from Capital Market....