Yen Surges as US and Japan Intervene, Oil Prices Tumble Amid Iran Ceasefire Hopes

Asian stock markets were mixed on Monday after the US and Japan intervened to prop up the Japanese yen against the US dollar. The yen rose to its highest level since late last year as a result of this action.

Oil prices plummeted following US President Donald Trump's statement that he would order US forces to refrain from attacking Iran, citing progress in negotiations to end the conflict in the Middle East.