USD/JPY Plunges Below 150.00 as US-Iran Talks Spark Risk-On Shift Post-Soft CPI

USD/JPY slipped sharply below 150.00 toward 149.50 after high-level US-Iran talks ignited risk appetite and reduced dollar safe-haven flows, even as BoJ's stance limited yen gains. The pair rocketed near 160.00 on April 23 Hormuz standoffs and US-Iran stalemate, crashed to 151.50 on April 17 Hormuz reopening and WTI plunge, then rallied to 159.65 by April 21 on renewed geopolitical risks. Japan's national CPI stalled at 2.2% YoY (core 2.0%), pushing yen to a two-week low near 151.80 before the latest dip, with traders watching 149.50 support and 160.00 intervention risks amid extreme volatility.