Oil falls, stocks gain amid Iran peace hopes
Oil prices dropped and major stock indexes gained on Monday on signs that US-Iran tensions were easing again, while the yen strengthened against the euro and dollar after the US and Japan confirmed joint intervention to support it.
Japan and the US conducted coordinated yen-buying intervention and will not hesitate to take further action, Japan’s finance ministry said on Monday, confirming a rare bilateral action to halt the yen’s slide to fresh 40-year lows.
Oil prices fell sharply after US President Donald Trump held off on a fresh attack on Iran in the hope of sealing a quick deal that could boost oil supplies from the Gulf.
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