Japan may conduct joint yen intervention "at any time" and signal the chance of faster-than-expected interest rate hikes to stem the currency's falls, said Tokyo's former top currency diplomat Mitsuhiro Furusawa.

The yen is "clearly too weak" at current levels and hurting the economy by boosting import costs, Furusawa said, adding that Tokyo and Washington could step in again if the yen returns to levels hit before their joint intervention last month.

"It is probably not a matter of intervening specifically at, say, 160 or 162 yen per dollar. But intervention could take place again at any time, including coordinated action with the United States," he told ⁠Reuters in an interview on Thursday. (RTRS – Continue Reading)

The Trump administration is applying a 100% tariff on imports of unmanned aircraft systems and their components in a bid to cut the US’s reliance on foreign supplies of drones.

The top 100% rate will apply to drones of a certain size or those that possess national-security capabilities, according to a White House statement. Other imports will face lower duties. The levies will take effect for many of the products in 21 days. (BBG – Continue Reading)

The US will be applying economic measures “that have never been seen on Iran,” according to Treasury Secretary Scott Bessent.

“It will be a combination of economic isolation like the world has never seen before, and the continued blockade in the Strait of Hormuz that will keep anything from going in or out of the Iranian ports,” Bessent said in an interview with Newsmax, without elaborating further.

His statements come as US Defense Secretary Pete Hegseth reportedly said late Thursday stateside that the US military can keep a naval blockade of Iran going “indefinitely.” The Navy will rotate ships in and out “as we have, and we’ll continue to,” Hegseth told reporters. (CNBC – Continue Reading)