Yen Stabilizes After Intervention Slide as Australian Dollar Hits Eight-Week High 
European Stocks Rise as U.S. Inflation Data Eases Fed Rate Hike Fears 
Oil Prices Slide as OPEC, IEA Cut 2026 Demand Forecasts 
KOSPI Rebounds 20% as Samsung, SK Hynix Lead South Korea Stock Rally 
Oil Prices Rise as US-Iran Talks Stall, Inflation Risks Grow 
Japan Government Backs Earlier BOJ Rate Hike as Inflation Pressures Build 
Asian Stocks Rise as AI Chip Rally Lifts South Korea, Japan 
Oil, Gold Rise as Geopolitical Risks Grip Markets Ahead of U.S. CPI 
UK Economy Posts Surprise June Growth as World Cup and Hot Weather Lift Activity 
Asian Currencies Steady as Dollar Holds Firm After U.S. Inflation Data 
Asian Stocks Mixed as RBA Holds Rates, Oil Risks Rise 
US Dollar Holds Firm as Fed Outlook and Iran Tensions Keep Markets on Edge 
Australia Housing Crisis Deepens as Worker Shortages Delay Homebuilding 
England Drought Expands to 71% as Heatwave Deepens Water Crisis 
Trump Weighs Capital Gains Tax Cuts Ahead of Midterms 
Iran War Escalates as US, Houthis Target Ships Near Key Oil Routes 
U.S. Stock Futures Flat Ahead of July CPI Data 
Add as a preferred source on Google
Asian currencies traded within tight ranges on Wednesday as investors awaited the U.S. Federal Reserve’s highly anticipated interest rate decision. The dollar remained steady after recent gains, while market participants also kept an eye on the upcoming Bank of Japan (BOJ) policy meeting and a scheduled discussion between U.S. President Donald Trump and Chinese President Xi Jinping.
The Australian dollar stood out, with the AUD/USD pair rising 0.2% to nearly a three-week high. Stronger-than-expected inflation data dampened expectations of further rate cuts by the Reserve Bank of Australia, boosting the currency.
Regional currencies found support in recent sessions amid signs of progress in U.S.-China trade negotiations and growing confidence in a potential Fed rate cut. The dollar index and its futures gained slightly in Asian trading, remaining firm ahead of the Fed’s announcement. Markets expect a 25-basis-point rate reduction as the U.S. economy shows signs of slowing inflation and labor market growth. However, traders are looking to Fed Chair Jerome Powell’s remarks for guidance on future monetary policy.
The Japanese yen hovered around 152 per dollar, recovering slightly after hitting an eight-month low. Despite minor strength, the yen remains pressured by expectations that the BOJ will maintain its ultra-loose monetary stance. Analysts anticipate no rate changes, particularly as Prime Minister Sanae Takaichi’s administration leans toward expansive fiscal policies—a factor weighing further on the yen.
Elsewhere, Asian currencies showed muted movement ahead of the Trump-Xi meeting in South Korea. The Chinese yuan (USD/CNY) hovered around 7.1, while the Singapore dollar (USD/SGD) edged up 0.1%, and the South Korean won (USD/KRW) rose 0.2%. The Indian rupee (USD/INR) stayed slightly higher above 88.
The meeting between Trump and Xi is expected to ease trade tensions, with potential discussions on fentanyl tariffs, rare earths, and AI chip exports.
