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The yen surged to the high 155-range against the dollar in thin holiday trading following Japan's national holiday. Central bank intervention speculation supports the yen's strength, marking a significant shift in the USD/JPY pair.
As Iran faces war and Western sanctions intensify, Chinese yuan payments have surged for both Iran and Russia. This shift demonstrates weakening US dollar dominance and the rise of alternative payment systems for countries under sanctions.
Rising oil prices suggest Japan may need to intervene to support the yen. Higher energy prices could negatively impact the Japanese economy.
Japan loosened post-WWII arms export restrictions, clearing the way to sell weapons to over a dozen countries. The move breaks with decades of pacifism and reflects Tokyo's strategic shift amid Middle East tensions and rising China concerns.