Dollar Gains Slightly as U.S.-Iran Tensions Keep Forex Markets on Edge 
UK Grocery Inflation Slows to 3.1% as Supermarket Price Pressures Ease in May 2026 
Asian Markets Slide as New U.S. Strikes on Iran Spark Investor Caution 
New World Screwworm Found Near U.S. Border Raises Threat to Cattle Industry and Beef Prices 
S&P 500 Hits Record High as Tech Rally Slows Amid Iran Peace Uncertainty 
Gold Prices Slip as Stronger Dollar and Iran Peace Talk Uncertainty Weigh on Market 
Iran-U.S. Nuclear Talks Remain Unresolved as Strait of Hormuz Risks Keep Markets on Edge 
Asian Stocks Rally as AI Boom and Iran Ceasefire Progress Lift Market Sentiment 
S&P 500, Nasdaq Hit Record Highs as Iran Ceasefire Talks and AI Rally Boost Markets 
U.S. Sanctions Iran’s Strait of Hormuz Authority as Global Oil Markets Face Turmoil 
US Imposes Fresh Iran Oil Sanctions Despite Progress on Ceasefire Talks 
South Korea Central Bank Holds Interest Rates Steady Amid Inflation Concerns 
US Launches New Trade Investigation Into Vietnam Over Intellectual Property Concerns 
Mega IPOs Like SpaceX and OpenAI Could Reshape S&P 500 and Nasdaq 100 Portfolios in 2026 
ECB’s Philip Lane Warns Middle East Conflict Could Keep Inflation Elevated 
Oil Prices Jump After New U.S. Strikes on Iran Raise Supply Concerns 
Canada and Germany Advance Major LNG Supply Partnership 
Most Asian currencies gained ground on Wednesday as the US dollar retreated to a four-week low amid improving global risk appetite, fueled largely by a surprise ceasefire agreement between US President Donald Trump and Iran. The development eased fears of a prolonged Middle East conflict and sent oil prices tumbling below $100 per barrel.
The US Dollar Index shed nearly 1%, with futures contracts also trading around 0.9% lower in early Asian hours. The retreat in the greenback provided broad support across regional currencies, with several posting notable gains.
Trump announced late Tuesday that both sides had agreed to a two-week "double-sided" ceasefire, struck just before a self-imposed deadline for potential large-scale US military action. The deal, brokered through Pakistan's diplomatic efforts, hinges on Iran guaranteeing the full and immediate reopening of the Strait of Hormuz — a critical global shipping route. Analysts at MUFG noted that de-escalation in the region is particularly favorable for Asia, which has been disproportionately affected by the threat of a Strait closure.
The Chinese yuan surged to its strongest level against the dollar in three years, with the USD/CNY pair falling to 6.82. The Japanese yen and South Korean won also strengthened, while the Singapore dollar posted moderate gains.
In monetary policy news, the Reserve Bank of New Zealand held its benchmark interest rate steady at 2.25%, in line with market forecasts. The central bank cautioned that elevated oil prices could temporarily drive inflation higher even as economic momentum slows. The New Zealand dollar jumped 1.7% following the announcement. The Australian dollar climbed 1.2%.
Meanwhile, the Indian rupee edged higher ahead of the Reserve Bank of India's policy decision, where the repo rate is broadly expected to remain at 5.25%. Traders are also watching Friday's US consumer price index release for fresh signals on the Federal Reserve's monetary policy direction.
