Yen weakens as U.S.-Japan intervention fades; oil steadies near one-week high on Iran tensions

The yen fell on Tuesday as the effects of a recent joint U.S.-Japan currency intervention faded, with investors citing a lack of unified action among central banks, the Financial Times reported .
Global oil prices steadied near one-week highs, with Brent crude holding around $87.50 per barrel after a 5% surge on Monday, as prospects for a U.S.-Iran deal to reopen the Strait of Hormuz dimmed. U.S. President Donald Trump demanded Iran pay reparations for war-related damages, while Iran insisted on the lifting of sanctions and U.S. compensation for war losses, according to Protothema . The strait remains closed, disrupting a key global energy route that previously carried one-fifth of the world’s oil and LNG, the report added.
Asian stock markets traded mixed on Tuesday, with South Korea’s Kospi declining 1.09% in intraday trade, while Hang Seng futures rose 0.55%. Japan’s markets were closed for Mountain Day, a national holiday, according to Livemint . The MSCI index for Asia-Pacific stocks outside Japan moved sideways, Handelsblatt reported .
Wall Street saw controlled losses on Monday, with the Dow Jones slipping 0.11% to 53,975, the S&P 500 falling 0.06% to 7,753, and the Nasdaq dropping 0.32% to 26,605, as uncertainty over U.S.-Iran negotiations and rising oil prices weighed on sentiment, Protothema noted . The 10-year U.S. Treasury yield rose to 4.795%, while the 30-year yield reached 5.25%.
In India, the Sensex and Nifty 50 closed nearly flat on Monday, with the Sensex up 0.06% at 78,542 and the Nifty 50 gaining 0.05% to 24,583.80, as gains in stocks like Titan and Bajaj Finance offset declines in SBI and Reliance, Livemint reported . Trading remained volatile amid geopolitical tensions and elevated crude prices.
Analysts warned that Brent crude could surge further, with some forecasting a potential rise to $100 per barrel if the Strait of Hormuz remains closed, Protothema added . Diesel prices in Europe have more than doubled in 2026 due to supply constraints from the Russia-Ukraine war.
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