Yen Soars on US-Japan Intervention; Oil Prices Plummet on Mideast Deal Hopes

Asian stocks were mixed on Monday as investors digested news that the US and Japan had collaborated to stabilize the Japanese yen against the US dollar.

The move was a response to concerns about the yen's value, which had been fluctuating in recent days. The yen jumped significantly against the dollar following the announcement, but its impact on other markets was more mixed.

Oil prices, meanwhile, plummeted after US President Donald Trump stated that he would instruct US forces to refrain from attacking Iran and claimed a deal to end fighting in the Middle East was imminent.