Iraqi oil official said Iraq will raise crude production at its southern fields to about 2.1 mln bpd.

KATAYAMA said she held a phone call with US Treasury Secretary BESSENT; the discussion briefly lifted the yen but it remains near four-decade lows. She said Tokyo and Washington have a full consensus to take bold action, including currency intervention if needed, and that bilateral cooperation and coordination have strengthened. She declined to comment on current FX levels. The roughly one-hour call, a follow-up to last week’s G7 meeting, also covered global financial-market conditions and developments around Iran and the Strait of Hormuz.

UK June services PMI (flash) 48.7 vs. 50.1 est; prior 49.3 — reading below 50 signals sector contraction.