Japan's central bank data suggests the government spent more than $30 billion intervening in currency markets on Thursday to support the yen. The scale, if confirmed, would make it one of the largest single-day yen defense operations on record. Japan's Ministry of Finance has the authority to direct yen-buying operations, with the Bank of Japan acting as its agent in the market. Currency intervention works by using foreign reserves to buy yen, reducing its supply and pushing the exchange rate higher. The yen had been under sustained pressure, sliding toward levels that Tokyo has historically treated as a trigger point for action. Traders will now watch the official confirmation from the Ministry of Finance, typically released with a lag, as well as whether the move holds the yen at stronger levels or whether markets test the rate again. A one-off intervention without follow-through from interest rate policy often has limited staying power.
Iranian armed forces attacked a cargo ship in the Strait of Hormuz on Thursday, briefly halting traffic through the waterway. The strike threatens a fragile US-Iran arrangement and could push shipping insurance costs and oil prices higher.
The US has struck Iran, with President Trump citing an Iranian attack on a ship in the Strait of Hormuz as justification. The action raises immediate risks for global oil flows through one of the world's most critical shipping chokepoints.
The US struck ten Iranian targets on the second consecutive day of military action, putting a fragile ceasefire under serious pressure. The escalation raises immediate risks for Gulf shipping, global oil supply, and regional stability.
Venezuela's twin earthquakes, magnitudes 7.2 and 7.5, have killed at least 164 people and injured 971, interim president Delcy Rodriguez confirmed Thursday. The quakes are the country's strongest since 1900, collapsing buildings across Caracas and prompting a state of emergency, with the death toll expected to rise as
