Asian Currencies Slip as Dollar Strengthens; Indian Rupee Rebounds on Intervention Hopes 
Silver Prices Hit Record High as Safe-Haven Demand Surges Amid U.S. Economic Uncertainty 
Asian Stocks Slide as AI Valuation Fears and BOJ Uncertainty Weigh on Markets 
Bank of Korea Downplays Liquidity’s Role in Weak Won and Housing Price Surge 
Wall Street Futures Slip as Tech Stocks Struggle Ahead of Key US Economic Data 
Asian Stocks Edge Higher as Tech Recovers, U.S. Economic Uncertainty Caps Gains 
Trump Orders Blockade of Sanctioned Oil Tankers, Raising Venezuela Tensions and Oil Prices 
Korea Zinc to Build $7.4 Billion Critical Minerals Refinery in Tennessee With U.S. Government Backing 
South Korea Warns Weak Won Could Push Inflation Higher in 2025 
China’s November Economic Data Signals Slowing Industrial Output and Weak Consumer Demand 
Japan PMI Data Signals Manufacturing Stabilization as Services Continue to Drive Growth 
Dollar Struggles as Markets Eye Key Central Bank Decisions and Global Rate Outlooks 
Gold and Silver Prices Dip as Markets Await Key U.S. Economic Data 
Chinese Robotaxi Stocks Rally as Tesla Boosts Autonomous Driving Optimism 
Oil Prices Slip in Asia as 2026 Supply Glut Fears and Russia-Ukraine Talks Weigh on Markets 
Singapore Growth Outlook Brightens for 2025 as Economists Flag AI and Geopolitical Risks 
Oil Prices Rebound as Trump Orders Blockade of Sanctioned Venezuelan Tankers 
Most Asian currencies steadied on Wednesday following overnight losses, as the U.S. dollar strengthened on hotter-than-expected inflation data, reinforcing concerns over President Donald Trump’s ongoing trade tariffs.
The U.S. Dollar Index rose 0.6% overnight, driven by June Consumer Price Index (CPI) data showing a 0.3% monthly increase—the largest gain since January. Core inflation rose 2.9% year-over-year, just under the 3% forecast, but still higher than May’s figure. ING analysts noted early signs of tariff-related price increases in select goods, supporting expectations that inflation could rise further through the summer.
Despite the slightly softer core inflation figure, analysts said the data leaves the door open for a possible Federal Reserve rate cut in September. However, the risk of stronger inflation in July and August could delay any policy easing. Fed Chair Jerome Powell has previously warned that tariffs would likely elevate prices during the summer months.
Investors remain cautious, particularly amid political pressure from Trump and allies calling for Powell’s removal, creating further uncertainty around Fed leadership.
The Japanese yen led overnight losses, with USD/JPY rising nearly 1% before stabilizing. South Korea’s won extended gains, with USD/KRW inching 0.2% higher. The Australian dollar edged up 0.2% after a 0.5% drop the day prior, while the Chinese yuan (USD/CNY and USD/CNH) rose 0.1% each.
The Indian rupee (USD/INR) and Singapore dollar (USD/SGD) traded flat.
Markets remain wary as Trump continues to threaten new tariffs, including a potential 19% duty on Indonesian imports, ahead of an August 1 deadline. While recent tariff threats have not triggered sharp moves, traders are holding back from large positions amid ongoing geopolitical and economic uncertainty.
