Oil Prices Rise as U.S. Strikes on Iran Raise Strait of Hormuz Supply Fears 
Japanese Yen Holds Steady as Intervention Hopes Grow Ahead of U.S. CPI Data 
Dollar Slides as Softer US Inflation Dims Fed Rate Hike Expectations 
South Korea’s KOSPI Enters Bear Market Despite Remaining 2026’s Best-Performing Major Stock Index 
ECB's Kocher Says No Inflation Spillover Yet From Iran Conflict, Warns Risks Remain 
Australian Business Conditions Hold Steady as Easing Cost Pressures Face New Oil Price Risks 
UBS Boosts China Tech Bets, Adds Kuaishou and Meituan to Focus List 
Oil Prices Surge as U.S.-Iran Conflict Escalates and Strait of Hormuz Risks Grow 
China Q2 2026 GDP Misses Forecast as Weak Domestic Demand Offsets Export Strength 
Port of Los Angeles Posts Record June Cargo Volume as Importers Rush Ahead of U.S. Tariffs 
Australia Consumer Sentiment Rises in July as Fuel Price Relief Lifts Confidence 
Singapore GDP Grows 5.7% in Q2 2026 as AI-Driven Manufacturing Boosts Economy 
US Stock Futures Hold Steady as Soft Inflation Data Eases Fed Rate Hike Fears 
Asian Stocks Rise as Softer U.S. Inflation Boosts Sentiment Despite Middle East Tensions 
Asian Stocks Slide as Oil Surge, U.S.-Iran Tensions and Fed Rate Bets Weigh on Markets 
China Home Prices Fall Again in June Despite Slower Pace of Decline 
South Korea Raises Interest Rates to 2.75% as Inflation and Weak Won Drive Tightening 
The U.S. dollar weakened on Monday after the Supreme Court struck down a broad range of former President Donald Trump’s tariffs, a move investors interpreted as supportive for global economic growth. Currency markets reacted cautiously, however, as geopolitical tensions involving Iran and ongoing trade uncertainty limited sharper swings.
The euro climbed 0.4% to $1.1820 during the Asia session, while the British pound rose 0.3% to $1.3516. The Japanese yen strengthened as the dollar fell 0.4% to 154.40 yen. Trading volumes were lighter due to a public holiday in Japan and China’s Lunar New Year break. Meanwhile, the safe-haven Swiss franc surged 0.5% to 0.7727 per dollar, reflecting continued demand for defensive assets.
Currency strategists noted that the court’s decision could ease pressure on global trade by limiting U.S. tariff authority. Analysts at OCBC Bank said the ruling may benefit non-U.S. growth, which in turn weighs on the dollar. However, the long-term foreign exchange outlook remains uncertain. Reduced tariff revenue could strain the U.S. fiscal position, potentially pressuring the dollar further, while constraints on executive trade power may reduce policy volatility.
Trump responded to the ruling by criticizing the court and introducing a temporary 15% blanket tariff on imports for 150 days. Legal experts expect extended litigation and policy uncertainty as the administration seeks alternative revenue measures. Bond investors are closely monitoring fiscal discipline, particularly as government spending remains elevated.
The New Zealand dollar edged higher near $0.60, while the Australian dollar dipped slightly to $0.7070. European officials also urged the U.S. to honor prior trade agreements that included zero tariffs on select goods.
Despite earlier expectations that tariffs would strengthen the dollar, the currency has fallen more than 9% this year. Investors have shifted focus toward potential interest rate cuts, rising U.S. deficits, and ongoing trade policy uncertainty, reshaping the global currency market outlook.
