Ticker: Dollar weakens sharply against Japanese yen

The day’s business news at a glance

The U.S. dollar has weakened sharply 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. It fell below 160 yen after regulators were suspected of stepping in.

On Monday after the official announcement of the intervention the dollar dropped to about 155.20 yen before rebounding slightly. That's a big change for the exchange rate. Trump said the U.S. got "financial benefit" out of the intervention, calling it a "signal of friendship." Finance Minister Satsuki Katayama said the finance ministry had purchased yen in coordination with the U.S. Treasury Department.

Trump's accounts were closed due to concerns

Capital One closed President Donald Trump's accounts in mid-2021 after flagging financial activity that resembled money laundering. The bank disclosed this in a court filing over the weekend. Trump has sued Capital One, alleging the closures were politically motivated following the Jan. 6 Capitol attacks.

Capital One seeks to dismiss the lawsuit, stating the closures followed months of analysis by its anti-money laundering team. Trump has also sued JPMorgan Chase, claiming similar political motivations. Both banks deny these claims, citing unusual practices as the reason for severing ties.

Cyberattack hits Liechtenstein register

The government of Liechtenstein says a cyberattack was made on a register of people behind companies and foundations in the wealthy principality. The data of some 31,000 people was tapped.

A government statement Sunday said the "register of economic beneficiaries" was accessed at night from Wednesday into Thursday last week. The breach was noticed Thursday, measures were taken to secure data and the system was taken offline. It said there were no indications that any data was altered or deleted.

Oil prices drop after Trump halts strikes

Oil prices fell sharply Sunday after President Donald Trump said he would order U.S. forces to hold off on new strikes against Iran. He claimed that a deal to end the fighting in the Middle East was near.

A resolution to the conflict could give oil shippers the ability to send vessels out of the Persian Gulf, where tankers of oil and other products have been trapped during the fighting. The price of U.S. crude oil fell about 6% to $80 per barrel Sunday night. The price of Brent crude, the international standard, fell 8% to about $83 per barrel.

WestJet makes tentative deal with flight attendants

Canada's second largest airline, WestJet, has agreed to a tentative agreement with flight attendants to end a strike that led to hundreds of flight cancellations and thousands of stranded passengers.

The union representing the flight attendants said Monday that if the deal is ratified, the agreement will provide for a duty period premium that recognizes more of the work cabin crew are required to perform and increases compensation for that work.