Published: 2026-08-02T23:42:38.000Z
Asia Open
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Trump claims Hormuz deal done, nuclear talks to start Monday
Bessent, Japan confirm Friday's joint yen intervention
EMERGING ASIA
Vibrant weekend as we heard Trump saying Hormuz deal is done and joint intervention confirmed by U.S.-Japan. The credibility from Trump is questionable but we do have headlines on early Sunday suggesting a deal between Iran and Oman is close. It lead to a more than 5 USD/b drop in oil. Else, U.S. confirmed they held a joint intervention with Japan on Friday to curb JPY's significant undervaluation. It is now going to support JPY as both signals continual willingness for further action.