Asian Stocks Fall as Surging Bond Yields Rattle Markets 
European Stocks Fall as Bond Yields and Geopolitical Risks Weigh 
RBI Uses $10 Billion Currency Swaps to Drain Excess Rupee Liquidity 
Mexico-US Trade Talks Delayed to October as Tariff Negotiations Continue 
U.S. Dollar Hits Two-Month High as Oil, Treasury Yields Surge 
Wall Street Falls as Treasury Yields Surge, Oil Rebounds on Iran Tensions 
Japan Private-Sector Growth Slows as Domestic Demand Weakens 
Gold Holds Near $4,275 as Rising Treasury Yields Fuel Fed Rate Hike Bets 
U.S. Treasury Yields Surge as 30-Year Hits 22-Year High 
Oil Prices Surge as U.S.-Iran Diplomacy Hopes Fade 
Fed Unveils Stablecoin Rules Under GENIUS Act 
US, China Extend Trade Truce to Jan. 10 Ahead of Trump-Xi Summit 
Gold Prices Fall as Treasury Yields Rise on Fed Rate Hike Bets 
Trump, Xi Focus on Trade and AI at White House Summit 
Russian Envoy Dmitriev Heads to US for Ukraine Talks 
Asian Stocks Fall as Bond Yields Surge Ahead of Trump-Xi Summit 
South Korea, US Discuss Warship Building Cooperation 
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Asian currencies traded within a narrow range on Wednesday as investors awaited further developments in U.S.-Iran ceasefire negotiations, while softer-than-expected U.S. inflation data offered modest relief to markets. The dollar edged slightly higher in Asian trading after a seven-session losing streak, weighed down by easing safe-haven demand and cooling inflation concerns.
The Chinese yuan held steady ahead of China's first-quarter GDP report due Thursday, which analysts expect will reflect a rebound from a sluggish December quarter. The Japanese yen slipped modestly, hovering near its lowest levels in roughly 18 months. Meanwhile, the dollar index and dollar index futures each gained less than 0.1%, staying under pressure despite the marginal bounce.
Tuesday's U.S. Producer Price Index reading came in below forecasts for March. Although energy prices climbed due to the ongoing Iran conflict, core inflation figures showed more contained growth, fueling optimism that the Federal Reserve retains room to cut interest rates. Former Fed Chair and Treasury Secretary Janet Yellen echoed that sentiment, stating she anticipates at least one rate cut this year despite ongoing economic uncertainty tied to the Iran war.
Across Asia, currency movements were subdued. South Korea's won was little changed after the incoming Bank of Korea Governor signaled a potentially hawkish policy stance, citing inflationary risks from the conflict and a weakened won. South Korean trade figures for March surprised to the upside, driven by robust semiconductor exports tied to artificial intelligence demand. The Australian dollar gained 0.3% as risk appetite improved, while the Indian rupee edged lower following softer-than-expected domestic inflation data. The Singapore dollar was flat after the Monetary Authority of Singapore tightened policy settings marginally the day before.
On the geopolitical front, the U.S. military confirmed its naval blockade against Iran was fully operational, cutting off all economic trade to and from the country. Despite this escalation, a fragile ceasefire appeared to remain in place, with President Donald Trump expressing confidence that a resolution was close and indicating further talks were expected within days.
