South Korea Stocks Tumble as AI-Fueled Rally Faces Profit-Taking Pressure 
Russian Stocks End Flat as MOEX Index Hits New 52-Week Low 
Japan Keeps Markets Guessing as Yen Nears 40-Year Low, Raising Intervention Risks 
Russia Stocks End Flat as MOEX Index Hits New 52-Week Low; Gold Falls and Oil Mixed 
Wall Street Ends Mixed as Alphabet Slumps, Middle East Developments and Fed Outlook Weigh on Markets 
Dollar Holds Firm as U.S.-Iran Talks Ease Tensions, GBP/USD Slips Amid UK Political Uncertainty 
Japan Manufacturing Growth Accelerates in June as Orders Surge Despite Iran War Cost Pressures 
US Stock Futures Slip After Wall Street Rally Fueled by US-Iran Deal and Chipmaker Surge 
Trump Says No Hormuz Strait Tolls During 60-Day Iran Ceasefire 
US Dollar Hits One-Year High as Hawkish Fed Outlook Overshadows Middle East Developments 
Asian Stocks Slide as AI Rally Pauses, South Korean Chipmakers Lead Regional Decline 
100+ Global Companies Push Governments to Prioritize Electrification for Economic Growth 
Oil Prices Fall as Iran Peace Talks Progress, Hormuz Reopens, and U.S. SPR Hits 1983 Low 
Asian Stocks Slip as Oil Rebounds Amid Fed Rate Hike Fears 
Canada, British Columbia Launch $5 Billion Infrastructure Partnership to Boost Housing, Transit, and Healthcare 
China’s AI Manufacturing Boom Masks Weak Consumer Economy, Citi Says 
Canada Imposes 10% Tariff on Canned Vegetable Imports to Protect Domestic Industry 
The U.S. dollar slumped to an eight-week low against the yen and hovered near a one-month low versus the British pound as trade war fears eased. Investors are reassessing the Federal Reserve’s rate outlook while the Bank of Japan signals further rate hikes.
By 0140 GMT, the dollar dropped 0.5% to 151.81 yen, extending Wednesday’s 1.1% decline. The yen strengthened following strong wage data and BOJ board member Naoki Tamura’s remarks that rates must rise to at least 1% by late 2025. Markets now expect a quarter-point BOJ hike by September with a 94.8% probability.
Sterling held firm at $1.2509, after touching $1.2550, its highest since January 7, despite a widely anticipated Bank of England rate cut. Market-implied odds for an immediate BoE rate reduction stand at 92%.
The euro remained steady at $1.0401, after a modest 0.2% gain on Wednesday. The dollar index stood at 107.57, near its overnight low of 107.29, after retreating from a three-week peak of 109.88 earlier in the week. U.S. trade tensions eased after last-minute tariff reprieves for Mexico and Canada, although Washington imposed 10% tariffs on China.
The offshore yuan edged up to 7.2775 per dollar, while the Canadian dollar steadied at C$1.4321, near its highest level since December 17. The Mexican peso held firm at 20.5789 per dollar.
Market focus now shifts to Friday’s U.S. payroll report. Traders have priced in a full quarter-point Fed cut by July and 46.3 basis points of easing by December, according to LSEG data. However, diminishing trade-related inflation risks could allow the Fed more policy flexibility.
