Japanese yen slumped to 161.93 per dollar in early New York trading, flirting with a 40‑year low. The drop followed a brief rally to 161.08 after Finance Minister Katsuyama’s online chat with U.S. Treasury Secretary Blinken, who cautioned against further depreciation.

The U.S. Treasury’s 60‑day approval of Iranian crude sales marks a sharp policy shift, enabling dollar‑settled transactions and reopening U.S. exports of Iranian energy after decades of sanctions. The move could trigger a surge in Middle East oil flows and alter global supply dynamics.

Britain’s Prime Minister Starmer resigned after two years in power, prompting a Labour leadership contest that may reshape the UK’s political landscape. Meanwhile, former Fed Chair Alan Greenspan, who guided the institution for 18 years, died at 100, closing a chapter on post‑2008 monetary policy. These events collectively weigh on investor sentiment and bond markets.

The confluence of yen weakness, sanction policy reversal, and political turnover signals heightened volatility in currency, energy, and political risk arenas, demanding cautious positioning from portfolio managers.