China Keeps Loan Prime Rates Unchanged for 13th Straight Month as Policymakers Prioritize Credit Demand Recovery 
Oil Prices Drop as U.S.-Iran Talks Ease Supply Concerns 
German Industry Employment Falls to Lowest Level in a Decade 
US Stock Futures Slip After Wall Street Rally Fueled by US-Iran Deal and Chipmaker Surge 
Dollar Holds Firm as U.S.-Iran Talks Ease Tensions, GBP/USD Slips Amid UK Political Uncertainty 
Asian Currencies Stabilize as Dollar Holds Near Two-Month High After Fed Hawkish Signal 
Russian Stocks End Flat as MOEX Index Hits New 52-Week Low 
Gold Price Rises as Investors Weigh U.S.-Iran Talks and Fed Policy Outlook 
Italy’s Economy Outpaces Eurozone Peers as Investment Spending Fuels Growth 
Dollar Hits One-Month High as Hawkish Fed Outlook Boosts Greenback 
France Faces Long Road to Economic Rebalancing as Weak Demand and High Rates Weigh, Says Citi 
Asian Stocks Rally as Japan and South Korea Reach Record Highs on US-Iran Peace Deal 
Trump Questions USMCA Renewal as Trade Talks Continue 
BOJ Signals More Rate Hikes as Inflation Risks Rise Amid Energy Price Pressures 
Japan Inflation Stays Below BOJ Target Despite Rate Hike and Rising Energy Cost Risks 
Trump Says No Hormuz Strait Tolls During 60-Day Iran Ceasefire 
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.
