Yen Jumps Against Dollar, Oil Prices Slip Amid Middle East Tensions

Asian stock markets were mixed on Monday after the US and Japan intervened to prop up the Japanese yen against the US dollar.

The dollar fell to around 155.20 yen after Trump and Japanese officials confirmed they had acted to curb the US currency's rise to 40-year highs against the yen.

A weak yen helps Japanese companies with international operations by boosting their profits in yen terms, but it also makes imports more expensive.

Oil prices fell sharply on Monday, down over 5%, after President Trump said he would order US forces to refrain from attacks against Iran, claiming a deal to end the fighting in the Middle East was close.