Yen Stabilizes Amid Fading Hopes for US-Iran Deal

The Japanese yen has stabilized after a sharp decline in the previous session following a joint intervention by the United States and Japan.

The intervention, which took place at the end of July, aimed to stabilize the yen's value but failed to produce a sustained recovery.

In Asian trading on Tuesday, the yen rose to 158.93 against the dollar, still below its three-month high of 155.20 reached last week.

The US dollar held steady against most major currencies, while oil prices remained near their highest levels in a week amid fading hopes for a deal between the United States and Iran to end their conflict.