Yen Soars, Oil Prices Plummet Amid US-Iran Deal Hopes

Asian stock markets were mixed on Monday as the Japanese yen surged to its highest level since late last year, boosted by joint efforts from the U.S. and Japan to prop up its value against the dollar.

The move sent a ripple effect through global financial markets, with oil prices plummeting after U.S. President Donald Trump announced that he would order U.S. forces to refrain from attacks against Iran, citing progress in negotiations towards ending hostilities in the Middle East.

The yen's surge was attributed to the joint efforts of the U.S. and Japan to stabilize its value, which had been under pressure due to a strong dollar.