Intervention

• US stocks are expected to open firmer following President Trump's announcement over the weekend that he cancelled planned strikes on Iran. • The decision to halt military action came at the request of Tehran and other Middle East nations, contingent upon the rapid negotiation of a deal. • Brent crude oil prices dropped by 4.7% as geopolitical tensions eased, while the Japanese Yen extended gains amid threats of market intervention.

• The Japanese yen rose nearly 1% against the U.S. dollar on Monday as investors anticipated a potential coordinated currency intervention between Japan and the United States. • This rally is driven by market expectations that Japanese authorities will act to stabilize the currency, alongside shifting outlooks regarding the Bank of Japan's monetary policy. • The movement is significant as it reflects growing volatility in the USD/JPY pair and highlights the tension between U.S. economic strength and Japanese currency stability.

• Japan has confirmed a joint currency intervention with the United States to stabilize the yen. • U.S. Treasury Secretary Scott Bessent stated that Washington will not hesitate to participate in further joint interventions if necessary. • This coordinated action aims to curb excessive volatility in the foreign exchange market and prevent the yen from weakening further.

• Japan's Bank of Japan and South Korea's Bank of Korea have reportedly engaged in a rare joint market intervention to stabilize the yen and the won. • Analysts suggest that because the two currencies are tightly coupled, a coordinated effort could double the impact on the forex market compared to unilateral actions. • This move matters as both nations seek to combat excessive currency volatility and protect their respective economies from rapid depreciation.

• European markets saw major indices reach new highs during the morning session on July 31, 2026. • The USD/JPY pair extended its rebound above 160 following a Bank of Japan decision and speculation regarding market intervention. • Eurozone inflation experienced a slight uptick in July, adding volatility to currency and bond markets.

The former Black Panther’s lawyers ask a UN panel to review his detention after US legal avenues were exhaustedAs he approaches the 45th anniversary of his incarceration in December, the Black radical writer and prisoner Mumia Abu-Jamal is taking his claim that he has been subjected to arbitrary imprisonment for a crime that he did not commit to a new tribunal: the United Nations in Geneva.On Tuesday Abu-Jamal, 72, lodged a petition with the UN’s working group on arbitrary detention, a body within the Human Rights Council. It marks the latest attempt by the internationally-renowned prisoner and prolific author of 15 books to seek relief, having exhausted all domestic channels through state and federal courts. Continue reading...

Statement by Israeli embassy in Canberra challenges proposed positions on settler violence and annexation of Palestinian territoryGet our breaking news email, free app or daily news podcastIsrael has made an intervention into the Labor party’s internal processes, publicly criticising a draft policy platform that it claims risks blaming Israel for the Gaza conflict while giving “insufficient attention” to the role of Hamas.The Israeli embassy in Canberra issued a four-page statement on Monday challenging the proposed positions on Palestine, Hamas and settler violence in the West Bank, due to be debated at this week’s Labor national conference. Continue reading...

• The U.S. dollar is projected to end the week with a loss following the release of soft payroll data. • Despite the decline, the dollar remains supported by hawkish signals from the Federal Reserve, including warnings from Kevin Warsh regarding the bank's commitment to a 2% inflation target. • The Japanese yen continues to be closely monitored by traders as markets anticipate potential government intervention to stabilize the currency.