Yen, euro under pressure as Middle East conflict stokes energy concerns

he yen and ​euro were broadly lower on Tuesday as the widening Middle East conflict focused attention on countries ‌dependent on energy imports and how central banks may respond to inflation pressures. The dollar benefited from safe-haven demand as the US and Israeli air war against Iran spilled out into neighboring countries. The euro steadied after sliding more than 1% as ​doubts swirled about when oil shipments from the region will be restored. Japanese Finance Minister Satsuki Katayama ​suggested that currency market intervention remains an option to defend the yen, and a ⁠speech by Bank of Japan Kazuo Ueda later in the day will be closely watched for signals ​on future rate hikes.