Fed Chair Kevin Warsh Signals Policy Overhaul as Hawkish Rate Outlook Rattles Markets 
German Industry Employment Falls to Lowest Level in a Decade 
Trump Says No Hormuz Strait Tolls During 60-Day Iran Ceasefire 
Japan Inflation Stays Below BOJ Target Despite Rate Hike and Rising Energy Cost Risks 
Asian Stocks Surge as Oil Prices Fall and Strong US Dollar Weighs on Markets 
Oil Prices Steady as U.S.-Iran Truce Uncertainty and Middle East Tensions Keep Markets on Edge 
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 
Trump Questions USMCA Renewal as Trade Talks Continue 
Russia Stocks End Flat as MOEX Index Hits New 52-Week Low; Gold Falls and Oil Mixed 
Japan Signals Readiness to Intervene as USD/JPY Nears 161 Amid Yen Weakness 
Yen Near 40-Year Lows Despite BOJ Rate Hike, Markets Brace for Possible Intervention 
Canada Imposes 10% Tariff on Canned Vegetable Imports to Protect Domestic Industry 
China’s AI Manufacturing Boom Masks Weak Consumer Economy, Citi Says 
BOJ Signals More Rate Hikes as Inflation Risks Rise Amid Energy Price Pressures 
US Stock Futures Slip After Wall Street Rally Fueled by US-Iran Deal and Chipmaker Surge 
France Faces Long Road to Economic Rebalancing as Weak Demand and High Rates Weigh, Says Citi 
Asian currencies gained traction on Friday, buoyed by a weakening U.S. dollar and rising expectations of a Bank of Japan (BOJ) rate hike following strong inflation data. The U.S. Dollar Index dropped 0.3% during Asian trading hours and is on track for a 1% weekly decline, pressured by growing concerns over the U.S. fiscal deficit. Dollar Index Futures mirrored this trend, falling 0.3%.
The Japanese yen led regional gains, with USD/JPY slipping 0.4%, setting the yen up for a 1.5% weekly gain. Japan's core consumer price index rose 3.5% in April, surpassing expectations and marking the fastest increase in over two years. A separate measure that excludes both fresh food and energy also climbed to 3.0%. These numbers, coupled with recent wage hikes, have strengthened market sentiment for a potential 25 basis point BOJ rate hike by July.
Meanwhile, the dollar faced added pressure after the U.S. House passed President Trump’s "One Big Beautiful Bill" on Thursday, introducing massive tax cuts and increased spending on defense and border security. The Congressional Budget Office estimates the bill could inflate the U.S. national debt by $3.8 trillion over the next decade. Moody’s recently downgraded the U.S. credit rating to Aa1, citing mounting debt concerns.
This backdrop fueled a broader advance among Asian currencies. The South Korean won rose 0.5%, the Philippine peso gained 0.6%, and the Chinese yuan in both offshore and onshore markets edged up 0.1%. The Australian dollar climbed 0.3%, while the Singapore dollar and Indian rupee appreciated 0.2% and 0.1%, respectively.
