This happened on Wednesday, August 5, 2026, at 7:59 am.

The market started the day higher due to hopes of a deal between the US and Iran.

Pressure on the Japanese yen also decreased after intervention from Japan.

See how the trading day unfolds on our blog.

Remember, this blog is not investment advice.

We will update you on the market throughout the day.

The Australian dollar is currently buying 110.9 Japanese yen.

Last week, it was trading above 114 yen.

The joint US and Japan intervention had a big impact on the yen's value.

The US sold some of its euro holdings to buy yen.

The Japanese government sold US dollars to buy more yen.

Former US Treasury Secretary Timothy Geithner said currency intervention can help.

But it only works if it's a bridge to policy or if it's working with the underlying direction of policy.

Mr. Geithner said financial markets expected Japan to raise interest rates.

This would help the objectives of the intervention.

Henry Paulson, another former Treasury Secretary, said Japan can't defy economic gravity.

Japan has high debt and needs higher interest rates, which contradicts its expansionary policies.

Mr. Paulson said the US should support Japan.

If Japan sells its US Treasury bonds, it could lead to higher borrowing costs for Americans.

Japan is under pressure to sell US dollars to buy yen to help its citizens.

A weak yen makes food and oil purchases more expensive for Japan.

Economists say currency interventions are short-term solutions.

US Treasury Secretary Scott Bessent implied the US may support Japan further.

The Japanese currency was at a 40-year low against the US dollar.

Mr. Bessent said the US will do whatever it takes to support Japan and the American economy.

The US funded its yen purchase by selling some of its euro holdings.

The Treasury Secretary said the euro is closer to its equilibrium price.

SpaceX's results beat analyst estimates, but the company is not yet profitable.

The Australian share market started its day higher, with the ASX 200 climbing to a new record high.

The market was up 0.6% to 9,202 points by 10:15 am AEST.

We will have more updates on what's driving the market higher.

Qantas is investigating ways to use AI and may offshore up to 1,000 jobs to India.

The airline is in early discussions with Accenture, but no formal agreement is in place.

Professor Greg Bamber said Qantas would likely face a backlash if it went ahead with offshoring plans.

SpaceX reported strong earnings, with revenue nearly doubling and operating losses narrowing.

The company's capital expenditures increased to over $18 billion.

SpaceX shares fell 7.5% in after-hours trading despite the strong earnings result.

The Australian share market is expected to start its day about 0.5% higher.

This will be the fourth day in a row that the market has risen.

It comes after a strong session on US markets, with the Dow Jones and S&P 500 climbing to new record highs.

The rally on Wall Street was driven by hopes for de-escalation in the Middle East and strong earnings from AI-related companies.

Palantir Technologies soared 29.5% after raising its annual revenue forecast.

Caterpillar jumped 5.6% after raising its annual revenue growth forecast.

Investors are closely monitoring results from AI-linked companies for signs that massive spending in the space will be justified.

The Australian share market is at its highest level in five months and is set to rise further.

The next few weeks may be volatile for people who own shares, with hundreds of Australian companies revealing their earnings.

Companies like Commonwealth Bank, BHP, and CSL will announce their results against a backdrop of a property downturn and high inflation.

Share prices may swing depending on whether results exceed or miss investors' expectations.