Asian Currencies Mixed as Dollar Holds Near Two-Month High 
European Stocks Fall as Bond Yields and Geopolitical Risks Weigh 
Dollar Holds Near Two-Month High as Yen Approaches 160 
Wall Street Falls as Treasury Yields Surge, Oil Rebounds on Iran Tensions 
Japanese Bank Stocks Surge as Bond Yields Fuel Rate Hike Bets 
Oil Prices Surge as U.S.-Iran Diplomacy Hopes Fade 
Fed Unveils Stablecoin Rules Under GENIUS Act 
US Stock Futures Fall as Treasury Yields Surge Ahead of Trump-Xi Summit 
RBI Uses $10 Billion Currency Swaps to Drain Excess Rupee Liquidity 
U.S. 10-Year Treasury Yield Hits 2007 High as Fed Rate Hike Bets Rise 
Japan Private-Sector Growth Slows as Domestic Demand Weakens 
Oil Prices Jump 3% as Houthi Attack Revives Supply Fears 
US 10-Year Treasury Yield at 6% Emerges as New Market Risk Threshold 
Fed Unveils Stablecoin Rules Under GENIUS Act 
US, China Extend Trade Truce to Jan. 10 Ahead of Trump-Xi Summit 
Wall Street Ends Flat as Oil, Treasury Yields and Fed Jitters Rattle Markets 
Russian Envoy Dmitriev Heads to US for Ukraine Talks 
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Asian currencies weakened sharply on Monday as escalating tensions involving Iran boosted oil prices, pushed global bond yields higher, and strengthened the U.S. dollar. Investors grew increasingly concerned that rising energy costs could reignite inflation and force central banks to maintain elevated interest rates for longer.
The Chinese yuan remained under pressure after disappointing economic data highlighted ongoing weakness in China’s recovery. The USD/CNY pair climbed 0.1%, hovering near its weakest level in more than two years. China’s April industrial production missed market expectations, while retail sales growth slowed to its weakest pace in over three years. Fixed asset investment also unexpectedly contracted, signaling weaker business and government spending activity.
Analysts said sluggish domestic demand continues to weigh heavily on the Chinese economy, while geopolitical risks linked to the Iran conflict could create additional challenges for trade and manufacturing across Asia. Although China and the United States recently agreed to reduce certain tariffs and trade barriers following high-level talks, investors remained cautious due to the lack of detailed policy guidance.
Broader Asian foreign exchange markets also struggled as higher oil prices and rising Treasury yields boosted demand for the U.S. dollar. The dollar index edged higher during Asian trading, reflecting expectations that global interest rates may stay elevated.
The Japanese yen weakened slightly, with USD/JPY rising 0.1% even as Japan’s 10-year government bond yields hit a 29-year high. Markets are increasingly betting that the Bank of Japan could raise interest rates in June, though the move may offer limited support to the yen.
Elsewhere, the Australian dollar fell 0.3%, while the South Korean won recorded one of the region’s biggest losses. The Indian rupee stayed near record lows as surging crude oil prices continued to pressure the import-dependent economy.
