Japanese Yen Holds Steady as Intervention Hopes Grow Ahead of U.S. CPI Data 
Gold Price Holds Near Record High as Cooling U.S. Inflation Offsets Fed Caution 
Iraq PM Visits Washington as U.S. Oil, Gas Deals Take Center Stage 
China Q2 2026 GDP Misses Forecast as Weak Domestic Demand Offsets Export Strength 
Dollar Slides as Softer US Inflation Dims Fed Rate Hike Expectations 
Singapore GDP Grows 5.7% in Q2 2026 as AI-Driven Manufacturing Boosts Economy 
Australian Business Conditions Hold Steady as Easing Cost Pressures Face New Oil Price Risks 
Asian Stocks Rally as Cooling U.S. Inflation Boosts Fed Rate Cut Hopes 
Australia Consumer Sentiment Rises in July as Fuel Price Relief Lifts Confidence 
Gold Price Holds Near $4,000 as Middle East Tensions and Fed Rate Hike Bets Grow 
Goldman Sees Foreign Investors Driving India Stock Market Recovery 
South Korea’s KOSPI Triggers Trading Curb as AI Chip Stock Selloff Deepens 
Asia Stocks Slip as Iran-Hormuz Tensions Lift Oil Prices, Dollar and Bond Yields 
Asian Stocks Rise as Softer U.S. Inflation Boosts Sentiment Despite Middle East Tensions 
China Home Prices Fall Again in June Despite Slower Pace of Decline 
South Korea Central Bank Set to Raise Interest Rates as Inflation Stays Elevated 
The U.S. dollar strengthened Thursday, drawing support from its safe-haven status after President Donald Trump signaled a significant escalation in military operations against Iran. The U.S. Dollar Index climbed 0.4% to 100.03 as investors reacted to the president's aggressive remarks delivered late Wednesday.
Earlier in the week, markets had shifted toward riskier assets amid hopes of a de-escalation between Washington and Tehran. That optimism reversed sharply when Trump announced plans to intensify operations over the coming weeks, stating that Iran's naval and missile capabilities had been substantially weakened and that the U.S. was close to achieving its strategic goals. He also offered no concrete timeline for reopening the Strait of Hormuz — a vital global energy corridor through which roughly one-fifth of the world's oil and gas supply passes.
Currency strategists at ING noted that while the first phase of a de-escalation trade had played out in foreign exchange markets, a further dollar decline would require clearer guidance on the Strait of Hormuz situation, which now appears increasingly uncertain. Sentiment received a modest lift after Iran's state media reported the country was working with Oman to develop a vessel monitoring protocol for the strait, though Iran's plan to impose tolls on passing ships drew immediate pushback from the U.S.
Attention now shifts to Friday's nonfarm payrolls report for March, which investors will closely watch for signals on Federal Reserve monetary policy. Weekly jobless claims came in below forecasts, though job cut announcements and a softening JOLTS report pointed to uneven labor market conditions.
Among other major currencies, the euro dipped briefly before recovering, while sterling fell as much as 0.6%, partly reflecting the U.K.'s vulnerability to energy supply disruptions and rising inflation expectations. The Japanese yen held steady, and the Australian dollar recovered after trade surplus data beat expectations.
