MONDAY MATTERS | news worth knowing
News and topics that will shape the week ahead:
Today, the U.S. Treasury Department and the Japanese government are coordinating a joint intervention in the foreign exchange market to support the Japanese yen. By purchasing yen and selling U.S. dollars, the two allies hope to prevent the yen from falling so rapidly that it destabilizes Japan's economy and creates ripple effects throughout the global financial system. Such coordinated action between the United States and Japan is rare, underscoring the seriousness of the yen's recent decline.
This past weekend, President Trump and Saudi Crown Prince Mohammed bin Salman announced an outline, or "perimeter," of a potential agreement with Iran. Given Iran's past attacks on Saudi Arabian military bases and oil infrastructure, it is understandable that Crown Prince bin Salman is advocating a diplomatic, rather than escalatory, approach toward Tehran.
Recently released polls from AP-NORC and Quinnipiac University show President Trump’s approval rating at roughly 33%, which is the lowest at any point during either of his terms. The war with Iran and excessive inflation are fueling the negative sentiment among the American population.
