Yen Rises Amid US-Japan Intervention; Oil Prices Plummet on Iran Ceasefire Speculation

Asian stock markets were mixed Monday after the US and Japan intervened to prop up the Japanese yen against the US dollar. The intervention caused the yen to rise to its highest level since late last year.

The move was seen as a response to concerns about a potential trade war between the two countries, with some analysts suggesting it could help stabilize global markets.

However, oil prices fell sharply after US President Donald Trump said he would order US forces to refrain from attacks against Iran. This led to speculation that a deal to end fighting in the Middle East was close.