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The yen rose to a six-month high against the dollar on September 7, driven mainly by market expectations of possible renewed intervention in the foreign exchange market by the Bank of Japan. Traders are closely watching oral warnings from Japanese Ministry of Finance officials and potential intervention signals. The yen/dollar exchange rate continued to strengthen during the Asian trading session on September 7, touching an intraday high not seen in six months. The direct cause of the yen’s strength is the rising market expectation of possible renewed intervention by the Bank of Japan. Japan’s Finance Minister has issued repeated verbal warnings recently that “excessive volatility” in the yen exchange rate is unacceptable, which the market interprets as a potential intervention signal. The Bank of Japan Governor also hinted in recent remarks that the central bank will “respond flexibly” to abnormal volatility in the foreign exchange market. Meanwhile, recent signals from the Federal Reserve about interest rate cuts have also supported the yen. Market analysts note that the yen’s appreciation, combined with continued climbing Japanese government bond yields, is producing chain effects on global asset allocation, with some overseas capital beginning to flow back into the Japanese bond market. Japanese Ministry of Finance data shows that several hundred billion dollars have been deployed this month to intervene in the yen’s movement. ...

U.S. Middle East envoys Steve Witkoff and Jared Kushner arrived in Kyiv on September 7 for face-to-face talks with President Zelenskyy, marking the first time senior U.S. officials have personally traveled to the Ukrainian capital since the war escalated.

Bloomberg reported on September 7 that Japan’s Ministry of Finance likely sold some of its U.S. Treasury holdings to fund a record-breaking yen intervention. The move marks an important shift in Japan’s currency intervention strategy and has drawn significant market attention.

The Associated Press reported on September 7 that North Korea has formally commissioned its second new guided-missile destroyer, while the United States, South Korea, and Japan are conducting large-scale joint naval exercises in waters near the Korean Peninsula.

Reuters reported on September 7 that Iran will formally announce a new maritime restricted zone in the Persian Gulf within days. The move comes amid renewed U.S.-Iran tensions and will have significant implications for international shipping and energy markets.

Core Summary Iranian state media claimed on September 6 that Iranian forces had successfully struck a US military drone operating in the region, describing the operation as retaliation for recent American actions. The US Central Command (CENTCOM) quickly rejected the claim as a “total lie,” stating that no American aircraft had been hit and that all US drones in the area remained operational. The episode highlights the ongoing information warfare accompanying the tense military standoff between the two countries. ...

Core Summary President Trump’s envoy team made their first-ever visit to Ukraine’s capital Kyiv on September 6, meeting with President Zelensky for talks. This diplomatic mission marks the latest effort by Washington to push for a ceasefire in the Russia-Ukraine conflict, and represents one of the Trump administration’s most significant diplomatic engagements in Central and Eastern Europe since taking office. The envoys had previously held preliminary consultations with Russian officials in Moscow. ...

Israel launched airstrikes on southern Lebanon in response to Hezbollah drone attacks, escalating tensions across multiple Middle East fronts.

The speaker lineup for the Republican 2026 Midterm Convention in Dallas has been revealed, with Trump and Vance both set to deliver keynote addresses.

The Trump administration is reportedly drafting a post-war reconstruction plan for the Middle East, aiming to lay the groundwork for political and economic order after regional conflicts end.