War-fueled oil surge imperils Japan tourism’s support for yen

Currencies

Higher travel costs put key source of buying demand for currency at risk

The yen traded in the low 159 range against the dollar in Tokyo on March 17. (Photo by Akira Kodaka)

TOKYO — The jump in crude oil prices as the Iran war rages on is putting additional downward pressure on the yen due to trade and economic concerns, with rising travel costs emerging as another potential source of weakness if tourists start to avoid Japan.