[Yen Falls to Lowest Level Since July 2024 as Iran Conflict Escalates] According to Golden Finance, on March 13, as the intensifying Middle East war drove up oil prices, the yen fell to its lowest point since July 2024. With Brent crude prices nearing $100 per barrel after experiencing one of the most volatile weeks in history, the yen weakened by 0.1% against the dollar, reaching 159.46. As Iran vowed to continue effectively blocking the Strait of Hormuz, investors braced for greater turbulence. Rising oil prices have exacerbated inflationary pressures in Japan, a country heavily reliant on Middle Eastern oil. Meanwhile, as investors flocked to safe-haven assets, the U.S. dollar stood out. (Zhitong Finance)