Gold Prices Slip as Oil Rally Fuels Inflation Fears, Strengthens Dollar 
Asian Stocks Rally as Cooling U.S. Inflation Boosts Fed Rate Cut Hopes 
Oil Prices Rise as U.S. Strikes on Iran Raise Strait of Hormuz Supply Fears 
Japan Core Inflation Seen Rising in June, Strengthening BOJ Rate Hike Outlook 
Asian Currencies Stay Rangebound as Middle East Tensions, Weak China GDP Weigh on Sentiment 
Brazil Weighs IP Curbs, Patent Suspensions After New U.S. Tariffs 
Gold Price Holds Near Record High as Cooling U.S. Inflation Offsets Fed Caution 
US Stock Futures Hold Steady as Soft Inflation Data Eases Fed Rate Hike Fears 
ECB's Kocher Says No Inflation Spillover Yet From Iran Conflict, Warns Risks Remain 
South Korea’s KOSPI Enters Bear Market Despite Remaining 2026’s Best-Performing Major Stock Index 
Port of Los Angeles Posts Record June Cargo Volume as Importers Rush Ahead of U.S. Tariffs 
South Korea Raises Interest Rates to 2.75% as Inflation and Weak Won Drive Tightening 
China Q2 2026 GDP Misses Forecast as Weak Domestic Demand Offsets Export Strength 
Nikkei Plunges 5% as AI Stock Selloff Spreads Across Asia 
Asian Currencies Hold Steady as Middle East Tensions Offset Weaker US Dollar 
UBS Boosts China Tech Bets, Adds Kuaishou and Meituan to Focus List 
The U.S. dollar hovered near an 11-week low on Wednesday, weighed down by falling short-term Treasury yields following weak economic data. Meanwhile, the yen strengthened as investors sought safety amid escalating trade tensions, while the Canadian dollar neared a two-week low.
The U.S. dollar index dipped 0.1% to 106.17, approaching Monday’s low of 106.13, the weakest level since December 10. The greenback’s decline follows disappointing U.S. economic indicators, including a steep drop in consumer confidence. The Conference Board reported a decline to 98.3, missing economists’ forecasts of 102.5, marking the largest fall since August 2021.
Market expectations for Federal Reserve rate cuts have intensified, with traders now pricing in two quarter-point cuts this year, potentially starting in July. The two-year U.S. Treasury yield slid to 4.086%, nearing its lowest level since November 1. Treasury Secretary Scott Bessent noted that economic fragility is more pronounced than surface metrics suggest, citing inflation and government-driven job growth.
The yen gained, with the dollar slipping 0.1% to 148.865 yen, approaching Tuesday’s low of 148.56, its weakest since October. The euro inched up 0.1% to $1.0520, while sterling held steady at $1.2669, close to a two-month peak. The Australian dollar eased to $0.6339 after inflation data signaled no major shift.
Bitcoin dipped 0.5% to $88,246 after a 5.6% drop on Tuesday, driven by market jitters over U.S. tariffs and fallout from a $1.5 billion Bybit hack. Uncertainty surrounding trade policy continues to weigh on risk assets while boosting demand for safe-haven currencies.
