Asian Stocks Rebound as Tech Shares Rally on Fed Rate Cut Hopes and Easing Iran Tensions 
South Korean Stocks Tumble as AI Chip Selloff Hits Asian Markets 
Japan Signals Readiness to Act on Yen as Intervention Speculation Grows 
Brazil to Phase Out Gasoline Subsidy First as Diesel Support Stays Longer 
Oil Prices Steady as U.S.-Iran Talks Ease Supply Fears Ahead of Holiday Weekend 
Asian Stocks Slide as Chip Shares Tumble Ahead of Key U.S. Jobs Report 
Gold Price Surges Above $4,120 as Weak US Jobs Data Lowers Fed Rate Hike Expectations 
US Stock Futures Hold Steady Ahead of June Jobs Report as Fed Rate Outlook Remains in Focus 
Japan Signals Surprise Yen Intervention Strategy as BOJ Hawkish Stance Puts FX Traders on Alert 
Asian Currencies Stay Under Pressure as Dollar Holds Near 13-Month High Ahead of U.S. Jobs Report 
U.S. Dollar Drops as Weak Jobs Data Boosts Fed Pause Bets, Yen Jumps on Intervention Talk 
Moody’s Says Peru’s President-Elect Keiko Fujimori Could Boost Investor Confidence 
US Dollar Rises as Fed Rate Outlook Stays Hawkish, Euro Slips and Yen Near 40-Year Low 
Trump Administration Declines USMCA Renewal, Opens Talks on New Trade Changes 
Goldman Sachs Says China Competition Weighs More on EU Growth Than Trade Deficit 
New Zealand Consumer Confidence Rises in June as Inflation Expectations Ease 
Australia Trade Balance Swings to Surprise Deficit as Imports Outpace Exports in May 
Most Asian currencies edged higher on Friday after the U.S. dollar retreated from a 13-month high following weaker-than-expected U.S. nonfarm payrolls data, raising fresh questions about the Federal Reserve’s interest rate outlook. However, gains across regional foreign exchange markets remained modest as investors stayed cautious over elevated U.S. interest rates, geopolitical uncertainty, and thin trading ahead of the U.S. market holiday.
The Japanese yen remained in focus, with the USD/JPY pair hovering near 161.16 after a sharp overnight decline. The yen recovered from its weakest level in four decades as Japanese officials intensified warnings about potential currency market intervention to curb excessive speculation. Reports suggested Tokyo has shifted toward a more targeted strategy aimed at squeezing speculative positions rather than signaling intervention well in advance.
Market participants are also watching for possible action during the U.S. holiday, a period when Japan has previously stepped into currency markets. Despite the recent rebound, the yen remains one of Asia’s weakest-performing currencies this year due to higher oil prices, the wide interest rate gap between Japan and the United States, and ongoing concerns over Japan’s fiscal outlook.
Analysts at OCBC noted that while intervention risks could trigger short-term volatility and sudden corrections in the yen, a lasting reversal in the USD/JPY exchange rate would likely require a meaningful shift in broader macroeconomic fundamentals rather than intervention alone.
The U.S. dollar also remained under pressure after June’s softer payrolls report reduced expectations that the Federal Reserve would continue raising interest rates this year. The dollar index extended overnight losses in Asian trading, although expectations for a hawkish monetary policy continued to provide underlying support. Federal Reserve Chair Kevin Warsh reiterated this week that the central bank remains committed to achieving its 2% inflation target despite persistent inflation pressures.
A weaker dollar helped lift several regional currencies. The Australian dollar gained nearly 0.3% against the greenback, while the Chinese yuan strengthened slightly, pushing USD/CNY down about 0.1%. The Indian rupee also posted modest gains, while the Singapore dollar traded largely unchanged. Meanwhile, the Taiwan dollar advanced roughly 0.2% as investors cautiously returned to regional currencies despite lingering concerns over U.S.-Iran negotiations and global market uncertainty.
