KREMLIN: PUTIN HELD PHONE CALL WITH SERBIA'S VUCIC, DISCUSSED COOPERATION IN ENERGY, OIL AND GAS, AND NUCLEAR SECTORS - IFX

The yen weakened to 160.46 per dollar on Monday, its lowest since July 2024, before recovering to around 159.95 after Japan’s top currency official Atsushi Mimura warned that “decisive action” may be needed if volatility persists. The currency had declined for four consecutive days, pressured by higher crude prices linked to the Iran conflict, which also weighed on Japanese government bonds. Mimura said speculative activity is rising in both foreign exchange and oil markets and signaled authorities are prepared to respond broadly. The 160 level is closely watched as Japan last intervened near that threshold in 2024, with Finance Minister Satsuki Katayama also referencing possible “bold action” in recent months.

US OIL RISES 3.9% TO HIT INTRADAY HIGH ABOVE $103 A BARREL