The Bank of Japan's July money market data suggests Japan conducted approximately ¥5.3 trillion in currency intervention on Friday to support the yen. The USDJPY is down an additional -0.58% (lower USD). The GBPUSD is lower by -0.10% (higher USD) to kickstart the new trading day, week and even month. Strait of Hormuz remains the key issueThe biggest focus continues to be reopening commercial shipping through the Strait of Hormuz. Shipping traffic remains well below normal, and isolated security incidents continue to pose risks.