On April 29, Mitsubishi UFJ Financial Group's bank analyst Derek Halpenny stated in a report that if the Federal Reserve acknowledges that the Iran war has driven up energy prices, potentially leading to increased inflation, it may adopt a 'hawkish' stance. According to Jin10, Halpenny noted that this rate decision might be the last meeting under U.S. President Donald Trump's Federal Reserve Chair Jerome Powell. Powell could emphasize the accumulating risks to price stability during the press conference. This scenario might cause the front end of the U.S. yield curve to jump and strengthen initial signs of improved dollar demand. Halpenny also mentioned that risks are accumulating for a weaker euro against the dollar and a stronger dollar against the yen.