Maersk said it has not yet resumed transits through the Strait of Hormuz.

Sumitomo Mitsui Nikko Securities strategist Ataru Okumura said Fed rate hikes prompted by rising inf could increase tightening pressure on the Bank of Japan. He noted the wide rate differential with the US has been the main driver of yen weakness, and a new global tightening cycle could expose the BOJ’s relative lag in raising rates. Okumura added market concern about Japanese government intervention may cap USD/JPY around the 160 area, but investors doubt how long intervention can hold, potentially forcing the BOJ to slightly accelerate its rate-hike pace.

Moscow mayor says refinery fire is largely under control.