The Japanese yen weakened to ¥147 per US dollar during early Tokyo trading on 23 June, its lowest level in more than a month and the first time it has broken the ¥147 threshold since 14 May. The currency briefly touched ¥146.83 before sliding past the psychologically important level as demand for the dollar intensified. Traders cited a rush into the dollar’s liquidity following overnight U.S. air-strikes on Iranian nuclear sites, an action that has heightened geopolitical risk in the Middle East. The Pentagon said the operation, carried out in the early hours of 22 June, hit facilities at Fordow, Natanz and Isfahan; Tehran has threatened retaliation, raising fears of a broader conflict. The flare-up also pushed Brent and WTI futures higher, with the U.S. benchmark trading near US$76 a barrel in Asian hours. Persistent oil strength could widen Japan’s trade deficit, adding further pressure on the yen. Market participants are now watching whether policymakers at the Ministry of Finance or the Bank of Japan will signal concern about the currency’s slide.