Australia Jobs Growth Strengthens Rate Hike Outlook 
South Korea Remains MSCI Emerging Market Despite Reform Progress 
Asian Stocks Sink as Apple Price Hikes Spark AI Valuation Fears, South Korea and Japan Lead Selloff 
Bessent Says U.S. Must Strengthen Supply Chains and Economic Security 
Oil Prices Drop as Middle East Supply Recovery Eases Market Concerns 
Gold Prices Fall Below $4,000 as Strong Dollar, Fed Rate Hike Bets Weigh on Bullion 
South Korea’s KOSPI Jumps Over 5% as Samsung, SK Hynix Rally on Micron Earnings Boost 
White House Seeks $87.6 Billion Emergency Funding for Iran War, Farmers, and Ebola Response 
Japan Signals Preference for Low Interest Rates as BOJ Policy Debate Intensifies 
Oil Prices Rebound as Strait of Hormuz Tensions Return After Ship Attack Near Oman 
Gold Drops Below $4,000 as Strong US Dollar and Fed Rate Hike Expectations Pressure Bullion 
U.S. Dollar Reaches One-Year High as Tech Sell-Off and Fed Rate Hike Expectations Support Demand 
Bank Regulation Rollbacks in the U.S. and UK Could Increase Financial Risks, Study Warns 
US Dollar Slips After PCE Inflation Data Eases Fed Rate Hike Expectations 
Malaysia Central Bank Moves to Support Ringgit Amid Foreign Fund Outflows 
Asian Currencies Trade Mixed as Yen Hovers Near 40-Year Low, Dollar Holds Firm on Fed Outlook 
Wall Street Ends Mixed as Micron Surges, Apple Drops After Price Hikes 
Most Asian currencies gained ground on Thursday as the U.S. dollar extended its losing streak for a ninth consecutive session, driven by renewed optimism surrounding potential U.S.-Iran peace talks ahead of next week's ceasefire deadline. The dollar index slipped approximately 0.1%, hovering near its weakest point in six weeks, as improving global risk appetite reduced demand for safe-haven assets.
Across the region, the Japanese yen strengthened 0.2% against the dollar, while the South Korean won advanced 0.3%. The Singapore dollar, Indian rupee, and Taiwan dollar each posted modest gains of around 0.1% to 0.2%, reflecting a broadly positive sentiment across emerging Asian markets.
The Chinese yuan stood out as the exception, trading flat near 6.8 per dollar — its strongest level in three years — despite China reporting better-than-expected first-quarter GDP growth of 5%, surpassing the forecasted 4.8% and accelerating from the previous quarter's 4.5% expansion. While exports fueled much of this growth alongside improving domestic spending, China's heavy reliance on trade could face challenges tied to ongoing war-related shipping disruptions and rising energy costs.
Adding to dollar weakness, U.S. producer inflation came in softer than anticipated, reinforcing market speculation that the Federal Reserve could still implement interest rate cuts before year-end.
Meanwhile, the Australian dollar climbed nearly 0.4%, reaching its highest level since June 2022. Although Australian employment growth in March came in slightly below forecasts and slowed considerably from February, the labor market remained tight enough to keep further Reserve Bank of Australia rate hikes on the table. The RBA, which raised rates by 25 basis points in March, continues to monitor inflationary risks linked to the ongoing Iran conflict.
Overall, easing geopolitical tensions and softer U.S. economic data combined to lift regional currencies while weighing on the greenback.
