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On Wednesday, the US dollar continued to strengthen, pushing the USD/JPY exchange rate down to the closely watched 160 level. Renewed escalation of conflicts in the Gulf region boosted investors' demand for the safe-haven US dollar.The US Central Command stated that Iran fired ballistic missiles at neighboring countries, but none hit their targets; the US military subsequently launched strikes on Qeshm Island in response to Tehran’s attempted attacks. This round of military action comes as diplomatic negotiations between the US and Iran remain stalled, with market sentiment subdued and the US dollar gaining the upper hand.During early Asian trading, the US dollar once touched 160 yen against the Japanese yen. Previously, Japanese authorities had intervened in the forex market near this level. This erased gains achieved a month earlier when Tokyo spent about 11.7 trillion yen (approximately 73.14 billion US dollars) to intervene in the foreign exchange market. The latest quote for USD/JPY stands at 159.89, nearly flat.Hirofumi Suzuki, chief forex strategist at Sumitomo Mitsui Banking Corporation, stated that upward pressure on crude oil prices is making the yen more vulnerable to selling. He believes the so-called “defense line” may not be a precise point, but the 160-161 range is being closely watched, implying that Japanese authorities may take further intervention measures. Japan’s Minister of Finance, Shun’ichi Katayama, also said on Wednesday that authorities are prepared to take appropriate action in the foreign exchange market.The prolonged Middle East conflict and persistently high energy prices have led investors to increase their bets on major central banks tightening monetary policy this year, marking a sharp reversal from the prevailing expectations of rate cuts before the outbreak of the conflict. The US Dollar Index held steady at 99.21, up slightly overnight.In terms of economic data, Tuesday’s figures showed US job openings in April saw their largest increase in five years, though this surge may overstate the true health of the labor market. Private sector employment data will be released later on Wednesday, while the key nonfarm payrolls report is scheduled for Friday.Kristina Clifton, strategist at Commonwealth Bank of Australia, stated that the US labor market is improving after 2025’s weakness. Coupled with high inflation, it is expected that the Federal Reserve will begin a rate hike cycle in December 2026.

According to @AiCoinzh data, user @Jason60704294 displayed holding 281.789 BTC long positions, valued at 19.1 million US dollars, with an opening price of 67,800 US dollars; it is estimated that his actual position may be 3,076.88 BTC, valued at 208 million US dollars. In addition, between May 28 and June 2, he opened short positions on 2,739 BTC, earning a profit of 3.31 million US dollars. (Ai Yi)

Spot platinum just broke through the $1,920.00/ounce mark, now quoted at $1,919.60/ounce, down 0.63% on the day; Nymex platinum futures main contract is now quoted at $1,925.0/ounce, down 0.94% on the day;