Mitsubishi UFJ said Japan-U.S. joint FX intervention appears to have been short-lived; USD/JPY has since recovered above 159 this week. After so sharp a drop in the pair, market appetite to buy yen may remain subdued in the near term. Some participants, notably retail FX margin traders, had been short USD/JPY but the recent rebound likely prompted selling of yen to cover those positions. Those shorts may already be closed, and at current lower levels mean-reversion/arbitrage (not directional) st

Sources say Ukraine and Moldova are considering shipping Ukrainian grain via Moldova's rail network.

Jefferies downgraded Apple Inc (AAPL.O) to Underperform from Hold and cut its price target to $263.66 from $285.56, implying roughly 16% downside to last Friday’s close. Analyst Edison Lee said Apple has cancelled a planned all‑glass 20th‑anniversary iPhone due to poor yields; the model was estimated to carry a blended ASP of $2,060 and Apple had planned to extend all‑glass features to future iPhone Pro/Pro Max models to lift ASPs and margins. Jefferies called the cancellation a major setback to Apple’s push for higher‑priced iPhones amid surging memory costs, lowering its iPhone ASP CAGR for FY2026–31 to 6.8% from 9.0% and trimming FY2028 EPS by 2.1%.