The U.S. dollar weakened sharply Monday against the Japanese yen after U.S. President Donald Trump and Japan's finance minister confirmed both sides had intervened in markets.

Before late last week, the dollar was trading above 163 yen, touching 40-year highs. After regulators were suspected of stepping in, it fell below 160 yen.

Analysts are expecting major oil companies to report raking in large spring profits while fighting between Iran and the U.S. impeded petroleum shipments and consumers around the world paid more for fuel and confronted shortages.

The conflict, now in its sixth month, halted most shipping through the Strait of Hormuz, a narrow waterway that previously served as a delivery route for a fifth of the world's oil and natural gas. With global supplies constrained, prices for Brent crude, the international standard, soared from about $70 to above $100 a barrel for much of March, April and May, and at one point reached $126.

Lebanon's judiciary postponed a Thursday hearing for former central bank governor Riad Salameh over alleged embezzlement after he failed to show up due to illness, a judicial official told AFP.

Americans' confidence in the economy fell this month as gas prices resumed their climb after the U.S. and Iran stepped up their fighting.

The Conference Board said Tuesday that its consumer confidence index fell to 90.8 in July from 92.2 in June. That's essentially the same tepid range its been in since the beginning of the year. In late 2024 and early 2025 the readings were well above 100.

China pushed back Tuesday against claims of overcapacity in the world's second largest economy, ahead of the release of results of a U.S. probe on the matter that could result in new tariffs.

Massive capacity in a slew of Chinese industries, from automaking to solar panels, cement and steel manufacturing, among many others, has drawn increasing attention from Beijing's trading partners in recent years. Although China's own leaders have made rebalancing the economy a priority, slowing domestic demand has prompted companies to expand into markets overseas. Surging exports pushed China's trade surplus to a record of nearly $1.2 trillion last year.

Iraq's new prime minister, Ali al-Zaidi, arrived in Turkey on Tuesday for talks that are expected to include the construction of a pipeline to Turkey aimed at reducing the exposure of Iraq's oil exports to tensions in the Gulf region. It is al-Zaidi's third visit abroad since taking office.

Zaidi's meetings with President Recep Tayyip Erdogan and other officials will also focus on security, trade, energy, transportation and water management, Turkish officials said.

President Donald Trump plans to tout his handling of the economy during a visit to suburban Detroit on Monday, defending sweeping tariffs in a swing state where their effects have hurt many businesses as midterm election season heats up.

Trump is visiting a General Motors facility in Milford, home to tracks and proving grounds for new models and vehicles. Early voting is underway for Michigan's Aug. 4 primary, which features fierce nomination fights in both major political parties.

China announced on Friday it was adding 14 European entities to an export control list in retaliation for the European Union penalizing 14 Chinese enterprises as part of its latest round of sanctions against Russia.

Chinese companies will not be allowed to export dual-use items, which can be used for both civilian and military purposes, to the 14 European organizations, China's Commerce Ministry said in a statement.

President Donald Trump is going ahead with new double-digit tariffs on dozens of U.S. trading partners just as the clock runs out Friday on stopgap levies he imposed after a stinging defeat at the Supreme Court.

The United States will slap taxes of 10% to 12.5% on imports from 60 trading partners accounting for 99% of U.S. imports, charging that they have inadequately enforced bans on goods produced by forced labor.

The European Central Bank left interest rates unchanged Thursday amid uncertainty about how volatile energy prices will affect inflation.

The central bank for the 21 countries that use the euro currency left its benchmark rate unchanged at 2.25% following a quarter-point hike at its previous meeting June 11. That increase was aimed at dampening the impact on consumer prices from higher oil prices due to the US-Iran war and subsequent interruption of oil shipments through the Strait of Hormuz.