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Trump Urges Gasoline Retailers to Cut Prices to $2.50 Per Gallon, Warns of Legal Action 
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Global Financial Firms Shift Asia Expansion Focus to South Korea as China, India Face Caution 
Gold Price Ends Lower for Fourth Week Despite Rebound as Fed Rate Hike Bets Strengthen 
Asian Stocks Slip as US-Iran Ceasefire Hopes Lift Oil, Dollar Strength Persists 
Economic pessimism has set in – but there are reasons for Australians to be hopeful 
China Sets 1.25% Overnight Reverse Repo Rate Below Market Expectations 
Trump Questions Housing Bill as He Prioritizes SAVE America Act 
Argentina Economy Shrinks 1.5% in April, Recovery Under Milei Loses Momentum 
China Expands Export Controls, Adds 20 Japanese Companies to Restricted List 
Trump Suspends Some Morocco Fertilizer Tariffs to Ease U.S. Supply Shortage 
Yen Falls to 40-Year Low as Markets Watch Japan Intervention and U.S. Jobs Report 
The Japanese yen remained a focal point in global foreign exchange markets on Monday, as it trimmed earlier gains against the U.S. dollar following a sharp rally driven by speculation of government intervention. The USD/JPY pair edged slightly higher to around 157.21 after briefly strengthening earlier in the day, highlighting ongoing volatility in the currency markets.
Market sentiment suggests that Japanese authorities may have stepped in last week to stabilize the yen, which has faced persistent weakness due to macroeconomic pressures. Reports indicate that Tokyo could have spent as much as 5.48 trillion yen (approximately $35 billion) in currency intervention, marking its first such move in two years. Analysts believe this action was aimed at preventing the dollar-yen exchange rate from breaching the 160 level, especially during Japan’s Golden Week holiday period when trading volumes are typically lower and price swings more pronounced.
Despite the intervention, experts caution that structural factors continue to weigh on the yen. Higher global oil prices, the U.S. Federal Reserve’s stance on interest rates, and Japan’s relatively low real yields all contribute to sustained downward pressure. Additionally, the yen remains a preferred funding currency for carry trades, further limiting its upside potential.
Meanwhile, the U.S. dollar gained support from increased safe-haven demand amid escalating geopolitical tensions in the Middle East. Renewed conflicts in the Strait of Hormuz, a critical route for global oil shipments, have heightened market uncertainty. Reports of attacks on vessels and disruptions to shipping routes have raised concerns about energy supply, boosting demand for the dollar.
The U.S. dollar index rose by 0.2% to 98.37, reflecting broader strength against major currencies. The euro and British pound both declined by 0.3%, trading at $1.1690 and $1.3530 respectively. Ongoing geopolitical risks and central bank policies are expected to keep forex markets volatile in the near term.
