{"id":65854,"date":"2026-08-03T02:08:16","date_gmt":"2026-08-03T06:08:16","guid":{"rendered":"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/global-markets-trump-cancels-iran-strikes-coordinated-yen-intervention-bolsters-currency\/65854\/"},"modified":"2026-08-03T02:08:16","modified_gmt":"2026-08-03T06:08:16","slug":"global-markets-trump-cancels-iran-strikes-coordinated-yen-intervention-bolsters-currency","status":"publish","type":"post","link":"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/global-markets-trump-cancels-iran-strikes-coordinated-yen-intervention-bolsters-currency\/65854\/","title":{"rendered":"Global Markets: Trump Cancels Iran Strikes, Coordinated Yen Intervention Bolsters Currency"},"content":{"rendered":"<h2>Key Takeaways<\/h2>\n<ul>\n<li><strong><a href=\"https:\/\/stockmarketwatch.com\/energy\/crude-oil\" data-internallinksmanager029f6b8e52c=\"12\" title=\"Crude oil\">Crude oil<\/a> futures slumped 6%<\/strong> following President Trump&#39;s announcement that planned strikes on Iran were cancelled at the request of Tehran and regional allies.<\/li>\n<li><strong>Japan and the U.S. conducted a rare coordinated yen-buying intervention<\/strong>, the first of its kind in nearly three decades, pushing <strong>USD\/JPY<\/strong> briefly below the <strong>156.00<\/strong> handle.<\/li>\n<li><strong>Cuba&#39;s national power grid collapsed<\/strong> for the fourth time in 2026, leaving approximately <strong>10 million people<\/strong> in total darkness amid a deepening energy crisis.<\/li>\n<li><strong>Ukraine&#39;s air defenses intercepted 107 of 131 Russian drones<\/strong> during a massive overnight assault, though several impacts were recorded at critical locations.<\/li>\n<li><strong>Wall Street analysts adjusted targets<\/strong> for major infrastructure players, with <strong>RBC<\/strong> raising nVent Electric (<a href=\"\/stock\/NVT\">NVT<\/a>) to <strong>$200<\/strong> and <strong>Jefferies<\/strong> cutting National Grid (<a href=\"\/stock\/NG\">NG<\/a>) to <strong>1,300p<\/strong>.<\/li>\n<\/ul>\n<h2>Geopolitical Relief Drives Energy Slump<\/h2>\n<p><strong>Crude oil prices<\/strong> experienced a sharp sell-off at the Monday open, with futures dropping <strong>6%<\/strong> as geopolitical tensions in the Middle East showed signs of a sudden de-escalation. U.S. President <strong>Donald Trump<\/strong> confirmed over the weekend that he had called off imminent military strikes against <strong>Iran<\/strong>, citing requests from Tehran and Gulf leaders, including Saudi Crown Prince <strong>Mohammed bin Salman<\/strong>.<\/p>\n<p>The stand-down is reportedly tied to an agreement in principle to reopen the <strong>Strait of Hormuz<\/strong>, a critical waterway for one-fifth of the world\u2019s oil supply. While <strong>Iran&#39;s<\/strong> semi-official media has denied requesting the pause, market participants reacted to the removal of the immediate &quot;war premium,&quot; sending <strong>Brent crude<\/strong> toward the <strong>$82<\/strong> mark.<\/p>\n<h2>Coordinated FX Intervention Stabilizes Yen<\/h2>\n<p>The <strong>Japanese yen<\/strong> surged on Monday after Japan&#39;s Finance Ministry confirmed it had partnered with the <strong>U.S. Treasury<\/strong> for a coordinated currency intervention on Friday. This marks the first joint effort to prop up the yen since 2011, aimed at countering &quot;excessive volatility&quot; after the currency hit 40-year lows.<\/p>\n<p>The <strong>USD\/JPY<\/strong> pair dipped as low as <strong>155.23<\/strong> during early trading before stabilizing near <strong>156.45<\/strong>. Finance Minister <strong>Satsuki Katayama<\/strong> warned that authorities &quot;won&#39;t hesitate&quot; to conduct further interventions, while President <strong>Trump<\/strong> noted the U.S. participation was a gesture of a &quot;good relationship&quot; with Japan.<\/p>\n<h2>Infrastructure Crisis and Analyst Shifts<\/h2>\n<p><strong>Cuba<\/strong> remains in a state of emergency after its <strong>national electricity system<\/strong> suffered a total disconnection late Sunday. The collapse, the island&#39;s fourth major blackout this year, is attributed to aging infrastructure and a tightening energy embargo that has left power plants &quot;down to fumes.&quot;<\/p>\n<p>In equity markets, analysts are recalibrating expectations for the power and electrification sectors. <strong>RBC Capital<\/strong> raised its price target for nVent Electric (<a href=\"\/stock\/NVT\">NVT<\/a>) to <strong>$200<\/strong> from <strong>$193<\/strong>, citing strong demand for AI data center cooling. Conversely, <strong>Jefferies<\/strong> lowered its target for National Grid (<a href=\"\/stock\/NG\">NG<\/a>) to <strong>1,300p<\/strong>, reflecting broader regulatory and financing headwinds in the utility space.<\/p>\n<h2>Conflict Escalation in Eastern Europe<\/h2>\n<p>Despite the relief in the Middle East, the conflict in <strong>Ukraine<\/strong> intensified as Russian forces launched <strong>131 drones<\/strong> in an overnight barrage. Ukrainian authorities reported that while <strong>107 UAVs<\/strong> were neutralized, <strong>16 strikes<\/strong> hit nine different locations, causing damage to residential and agricultural infrastructure. Russian officials claimed their own air defenses were on high alert, intercepting over a hundred drones in western border regions.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Key Takeaways Crude oil futures slumped 6% following President Trump&#39;s announcement that planned strikes on Iran were cancelled at the 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