U.S. Dollar Reaches One-Year High as Tech Sell-Off and Fed Rate Hike Expectations Support Demand 
Wall Street Ends Mixed as Micron Surges, Apple Drops After Price Hikes 
Australia Jobs Growth Strengthens Rate Hike Outlook 
South Korea’s KOSPI Jumps Over 5% as Samsung, SK Hynix Rally on Micron Earnings Boost 
Japan Signals Preference for Low Interest Rates as BOJ Policy Debate Intensifies 
Trump Requests $11 Billion More in Farm Aid as Rising Costs Pressure U.S. Farmers 
Australian Household Spending Rebounds Strongly in May as Travel and Dining Drive Consumer Growth 
Asian Markets Rally as Micron and Qualcomm AI Outlook Lifts Global Tech Stocks 
Oil Prices Drop as Strait of Hormuz Shipping Recovers 
South Korea Remains MSCI Emerging Market Despite Reform Progress 
Asian Currencies Trade Mixed as Yen Hovers Near 40-Year Low, Dollar Holds Firm on Fed Outlook 
Bank Regulation Rollbacks in the U.S. and UK Could Increase Financial Risks, Study Warns 
Asian Stocks Sink as Apple Price Hikes Spark AI Valuation Fears, South Korea and Japan Lead Selloff 
Wall Street Ends Mixed as Tech Stocks Struggle Ahead of Micron Earnings 
Malaysia Central Bank Moves to Support Ringgit Amid Foreign Fund Outflows 
SpaceX Eyes Starlink Mobile Phone Service to Challenge Verizon, AT&T, and T-Mobile 
Gold Prices Fall Below $4,000 as Strong Dollar, Fed Rate Hike Bets Weigh on Bullion 
Most Asian currencies gained ground on Wednesday as the US dollar retreated to a four-week low amid improving global risk appetite, fueled largely by a surprise ceasefire agreement between US President Donald Trump and Iran. The development eased fears of a prolonged Middle East conflict and sent oil prices tumbling below $100 per barrel.
The US Dollar Index shed nearly 1%, with futures contracts also trading around 0.9% lower in early Asian hours. The retreat in the greenback provided broad support across regional currencies, with several posting notable gains.
Trump announced late Tuesday that both sides had agreed to a two-week "double-sided" ceasefire, struck just before a self-imposed deadline for potential large-scale US military action. The deal, brokered through Pakistan's diplomatic efforts, hinges on Iran guaranteeing the full and immediate reopening of the Strait of Hormuz — a critical global shipping route. Analysts at MUFG noted that de-escalation in the region is particularly favorable for Asia, which has been disproportionately affected by the threat of a Strait closure.
The Chinese yuan surged to its strongest level against the dollar in three years, with the USD/CNY pair falling to 6.82. The Japanese yen and South Korean won also strengthened, while the Singapore dollar posted moderate gains.
In monetary policy news, the Reserve Bank of New Zealand held its benchmark interest rate steady at 2.25%, in line with market forecasts. The central bank cautioned that elevated oil prices could temporarily drive inflation higher even as economic momentum slows. The New Zealand dollar jumped 1.7% following the announcement. The Australian dollar climbed 1.2%.
Meanwhile, the Indian rupee edged higher ahead of the Reserve Bank of India's policy decision, where the repo rate is broadly expected to remain at 5.25%. Traders are also watching Friday's US consumer price index release for fresh signals on the Federal Reserve's monetary policy direction.
