Kremlin says Russian President Putin and US President Trump may speak in the near future.

Tatsuo Yamazaki, a former top foreign-exchange official at Japan’s Ministry of Finance, said in a Monday interview the yen should appreciate by as much as 20% to roughly ¥130 per $1 and that a 10% undervaluation estimate may be conservative. He said the issue is how market expectations shift rather than fundamentals and warned authorities have moved beyond warnings and are prepared to intervene, creating a risk of forced covering for yen short positions.

Onshore yuan (CNY) closed at 6.7925 per U.S. dollar at 16:30 on July 6, down 121 pips from the previous session.