Yen Surges on Tokyo Warning, but Oil and Yields Still Set the Broader FX Tone
What’s happening: Yen surged broadly Monday, pushing USD/JPY through 157, after Japan’s Vice Finance Minister Atsushi Mimura sharpened Tokyo’s intervention warning, saying markets should take the coordinated Japan-US message on Yen weakness “at face value.” At the same time, Brent rose 2.49% to $106.92 and WTI gained 2.25% to $94.49 after Trump rejected Iran’s latest…
