Today’s news briefs include Japan currency crisis; Covid on rise; Migrants die in heat; Egypt offers security after Gaza war.
Japanese currency at 4-decade low
The Japanese yen has fallen to its lowest level against the U.S. dollar since 1986. The country, the world’s fourth largest economy, may intervene love the next few days to prevent a financial disaster similar to the 20-year financial crisis it suffered in recent decades. After the yen slumped to a 34-year low against the dollar in late April, Japan spent more than $61 billion intervening in foreign exchange markets between April 29 and May 29. Authorities sold the yen and purchased other currencies, such as the U.S. dollar, to counteract the yen’s selloff and stabilize its value.
Covid on rise but symptoms are mild
Recent data show that COVID-19 cases are on the rise in 39 states, although the Centers for Disease Control and Prevention (CDC) has said there’s no sign that the variants driving that increase lead to more severe symptoms. The good news is symptoms are similar to a light summer cold with the exception of people feeling more tired. Deaths from the virus continue to be at an all-time low, according to a graph provided by the federal health agency.
Migrants on way to U.S. dying in the summer heat
Hundreds of migrants heading north to the U.S. may have died in scorching desert heat. The Mexican government has reported 155 known heat-related deaths so far, with 30 occurring in the past week alone. Bodies continue to be found every day and the numbers do not include the dead discovered on the American side of the border. Mexico’s government has been allowing migrant caravans to continue unimpeded towards the southern border with the U.S. According to Mexico’s National Institute of Migration (INM), more than 1.3 million migrants crossed Mexican territory between January and May of this year. Since 2021, nearly 7 million migrants have entered the U.S. illegally.
The day after the Gaza war
Egypt and the United Arab Emirates are willing to participate in a post-war Gaza security force alongside “local Palestinian officers” on the condition that Israel agrees to a pathway to a Palestinian state, three officials familiar with the talks told The Times of Israel on Thursday. Cairo also demanded a full withdrawal of Israel Defense Forces troops while Abu Dhabi has requested “U.S. involvement” in the security of Gaza after the conflict, JNS reports. Saudi Arabia has privately signaled it would also participate in an effort to ensure Hamas does not retake power. The majority of Gazans are not Palestinian but are of Egyptian descent. Egypt occupied Gaza up until 1967 when it was forced to withdraw after losing a war with Israel. Israel left Gaza in 2005 and Hamas was elected there the following year. Egypt has a peace treaty with Israel and the UAE signed the Abraham Peace Accords during the Trump administration.
–Dwight Widaman and news services
