Gold Price Holds Near Record High as Cooling U.S. Inflation Offsets Fed Caution 
Asian Stocks Slide as Oil Surge, U.S.-Iran Tensions and Fed Rate Bets Weigh on Markets 
Oil Prices Surge as U.S.-Iran Conflict Escalates and Strait of Hormuz Risks Grow 
Dollar Slides as Softer US Inflation Dims Fed Rate Hike Expectations 
Asian Stocks Slide as Chip Selloff Deepens Ahead of TSMC Earnings 
ECB's Kocher Says No Inflation Spillover Yet From Iran Conflict, Warns Risks Remain 
Oil Prices Climb as Trump Escalates Iran Pressure, Strait of Hormuz Risks Grow 
Dollar Holds Steady Ahead of U.S. CPI as Oil Surge, Middle East Tensions Keep Markets on Edge 
Japanese Yen Holds Steady as Intervention Hopes Grow Ahead of U.S. CPI Data 
Australian Business Conditions Hold Steady as Easing Cost Pressures Face New Oil Price Risks 
Gold Price Holds Near $4,000 as Middle East Tensions and Fed Rate Hike Bets Grow 
South Korea’s KOSPI Enters Bear Market Despite Remaining 2026’s Best-Performing Major Stock Index 
IEA Warns China Rare Earth Export Curbs Could Threaten $6.5 Trillion in Global Production 
South Korea Raises Interest Rates to 2.75% as Inflation and Weak Won Drive Tightening 
UBS Boosts China Tech Bets, Adds Kuaishou and Meituan to Focus List 
Port of Los Angeles Posts Record June Cargo Volume as Importers Rush Ahead of U.S. Tariffs 
Asian Currencies Hold Steady as Middle East Tensions Offset Weaker US Dollar 
Asian currencies traded within a narrow range on Wednesday as the U.S. dollar remained close to a six-week high, supported by growing expectations of another Federal Reserve rate hike and ongoing uncertainty surrounding the Iran conflict. Investors continued to monitor geopolitical tensions and rising oil prices, both of which have fueled concerns over global inflation and interest rate policy.
The U.S. dollar index and dollar futures edged higher during Asian trading hours, maintaining levels not seen since early April. Market sentiment was boosted after Philadelphia Federal Reserve President Anna Paulson stated that financial markets were justified in speculating about possible future interest rate hikes, even as current monetary policy remains restrictive. Rising energy costs linked to the Iran war have intensified inflation concerns, strengthening the dollar’s appeal as a safe-haven currency.
Oil prices remained elevated after the conflict disrupted nearly 20% of global oil supply routes, adding pressure on inflation worldwide. Although Washington indicated that negotiations with Iran were progressing positively, crude prices retained most of their recent gains, keeping markets cautious.
Among Asian currencies, the Indian rupee emerged as the weakest performer. The USD/INR pair climbed to a record high of 96.784, driven by India’s heavy dependence on imported crude oil and concerns over the Reserve Bank of India’s ability to stabilize the currency amid soaring energy prices.
The Japanese yen showed modest strength, with USD/JPY slipping below the 159 level as investors increased bets on a potential Bank of Japan rate hike next month. Expectations of tighter monetary policy in Japan offered limited support to the otherwise weak yen.
Elsewhere, the Australian dollar weakened slightly, while the Singapore dollar and South Korean won remained largely unchanged. The Chinese yuan posted minor gains, and the Taiwan dollar traded flat despite renewed tensions between China and Taiwan following comments from U.S. President Donald Trump regarding arms sales and Taiwan’s political status.
