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Japanese Yen Intervention Threat: The Last Line of Defense for a Structural Decline

USD/JPY remains under pressure as rising oil prices, fiscal risks, and Bank of Japan policy constraints fuel speculation over renewed Japanese currency intervention.Key HighlightsThe Japanese yen has been weakening with the threat of government intervention identified as the primaryFactorcapping further losses.Analysts note the intervention …

Nitish Kishor | 20 May 2026

Saudi Arabia Intercepts Drones from Iraqi Airspace: The War's Geography Is Expanding

Saudi Arabia intercepted drones entering from Iraqi airspace, highlighting rising regional escalation risks, Iran-backed militia activity, and growing pressure on US Middle East defence commitments.Key HighlightsSaudi Arabia announced the interception of three drones that entered its airspace from Iraqi territory, marking a significant geographical …

Nitish Kishor | 20 May 2026

Washington Considers Iran Oil Waiver as Ceasefire Talks Pressure Energy Markets

The suggestion that Washington is considering a temporary sanctions waiver for Iran represents a meaningful departure from the maximum pressure framework that has been the administration's stated policy since the conflict began. Maximum pressure doctrine holds that sanctions should be maintained and tightened until …

Nitish Kishor | 20 May 2026

The Gulf War's African Aftershocks: When a Hormuz Conflict Reaches the Sahel

The Gulf conflict is driving fuel price shocks, Red Sea disruptions, andRemittancepressures across Africa, with the African Development Bank warning of major economic risks for 2026.Key HighlightsThe Iran-Gulf conflict is generating significant economic and security aftershocks across Africa, particularly in countries dependent on Gulf …

Nitish Kishor | 20 May 2026

Iran's Proxy Network Exploits the Gulf Distraction: The War's Invisible Fronts

Iran-aligned proxy groups including Houthis, Hezbollah, and Sahel affiliates are escalating activity across multiple regions as US and allied forces shift focus to Gulf conflict operations.Key HighlightsIran-aligned non-state actors across the Middle East and Africa are expanding their activities as US and allied counterterrorism …

Ankur Sharma | 20 May 2026