China Q2 2026 GDP Misses Forecast as Weak Domestic Demand Offsets Export Strength 
Asian Stocks Slide as Chip Selloff Deepens Ahead of TSMC Earnings 
South Korea’s KOSPI Enters Bear Market Despite Remaining 2026’s Best-Performing Major Stock Index 
Japanese Yen Holds Steady as Intervention Hopes Grow Ahead of U.S. CPI Data 
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 
US Inflation Expected to Ease in June, but Fed Rate Hike Risks Persist Amid Middle East Tensions 
Goldman Sees Foreign Investors Driving India Stock Market Recovery 
IEA Warns China Rare Earth Export Curbs Could Threaten $6.5 Trillion in Global Production 
Dollar Holds Steady Ahead of U.S. CPI as Oil Surge, Middle East Tensions Keep Markets on Edge 
Oil Prices Rise as U.S. Strikes on Iran Raise Strait of Hormuz Supply Fears 
Gold Prices Slip as Oil Rally Fuels Inflation Fears, Strengthens Dollar 
U.S. Imposes 25% Tariff on Select Brazilian Imports After Section 301 Trade Investigation 
Oil Prices Climb as Trump Escalates Iran Pressure, Strait of Hormuz Risks Grow 
Asian Stocks Rally as Cooling U.S. Inflation Boosts Fed Rate Cut Hopes 
Asian Currencies Stay Rangebound as Middle East Tensions, Weak China GDP Weigh on Sentiment 
Asian Stocks Rise as Softer U.S. Inflation Boosts Sentiment Despite Middle East Tensions 
The U.S. dollar climbed higher on Thursday, extending its strongest advance in six weeks after the latest Federal Reserve minutes reduced expectations for a December interest rate cut. Meanwhile, the Japanese yen continued its decline, pressured by growing doubts that Tokyo will intervene in the currency market anytime soon.
During Asian trading hours, the yen sank to a 10-month low of 157.48 per dollar, deepening losses sparked after Finance Minister Satsuki Katayama said currency issues were not part of recent discussions with Bank of Japan Governor Kazuo Ueda. The yen has now fallen roughly 6% since Prime Minister Sanae Takaichi became party leader, despite rising Japanese government bond yields. Investors remain wary of the hefty borrowing required to support her stimulus proposals.
According to Vishnu Varathan, head of research at Mizuho in Asia, the market is pricing in broader concerns about Japan’s economic direction. He noted that the yen’s slide persists even as the U.S.–Japan rate differential narrows, suggesting either a shift in traditional market relationships or a growing “Sell Japan” sentiment.
Traders increasingly expect Japanese authorities to consider intervention if the yen nears 160 per dollar or if volatility spikes. Chief Cabinet Secretary Minoru Kihara emphasized that recent moves were sharp, one-sided, and worrying for policymakers.
Beyond Japan, the dollar’s rally weighed on several major currencies. The euro slipped to a two-week low of $1.1510, while the British pound dipped to $1.3040. The New Zealand dollar, already under pressure, touched a seven-month low at $0.5591 as markets priced in a rate cut next week. In contrast, expectations for a U.S. rate cut in December have dropped to below 25%, a sharp shift from near-certainty just a month ago.
The dollar index gained 0.5% overnight, breaking above its 200-day moving average, and continued to edge upward to 100.25 on Thursday. These moves reflect a stronger dollar driven by a more hawkish-leaning Fed and diverging monetary paths across global economies.
