Japanese Bank Stocks Surge as Bond Yields Fuel Rate Hike Bets 
Australia Unemployment Hits Five-Year High Despite Strong Jobs Growth 
UK PM Burnham to Unveil Economic Vision at Labour Conference 
Trump, Xi Focus on Trade and AI at White House Summit 
Gold Prices Fall as Treasury Yields Rise on Fed Rate Hike Bets 
Fed’s Hammack Says Bond Yield Surge Is Not Driven by Inflation Fears 
Canadian Dollar Faces Pressure as Fed-BoC Policy Gap Widens 
Asian Stocks Fall as Bond Yields Surge Ahead of Trump-Xi Summit 
China Agrees to Buy 20 Million Tons of U.S. Coal 
Asian Currencies Mixed as Dollar Holds Near Two-Month High 
Dollar Holds Near Two-Month High as Yen Approaches 160 
Fed Unveils Stablecoin Rules Under GENIUS Act 
Dollar Falls as Oil Eases, Yen Jumps on Intervention Signals 
Oil Prices Jump 3% as Houthi Attack Revives Supply Fears 
U.S. Treasury Yields Surge as 30-Year Hits 22-Year High 
Asian Stocks Fall as Surging Bond Yields Rattle Markets 
RBI Uses $10 Billion Currency Swaps to Drain Excess Rupee Liquidity 
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Most Asian currencies fell on Monday as the U.S. dollar strengthened in the wake of American strikes on three Iranian nuclear facilities, stoking demand for safe-haven assets. The dollar index added roughly 0.3% in early Asian trade, extending last week’s rise after several Federal Reserve officials signaled interest rates may stay higher for longer. Investors now look to Fed Chair Jerome Powell’s testimony before Congress on Tuesday and Wednesday for policy clues.
Safe-haven flows favored the greenback even as traditional refuges such as gold and the Japanese yen weakened. Tehran’s reported threat to block the Strait of Hormuz—a choke-point for nearly a fifth of global crude shipments—fueled a jump in oil prices and heightened inflation worries across energy-dependent Asia.
The Chinese yuan slipped, with the onshore USDCNY pair up 0.1%, while the Singapore dollar’s USDSGD pair advanced 0.2%. South Korea’s won led regional losses, the USDKRW pair climbing 0.7%. India’s rupee also softened, nudging USDINR 0.2% higher.
Positive economic data offered little support. Australia’s AUDUSD fell 0.7% despite June PMIs showing resilient manufacturing and services growth. Japan’s yen lost 0.5% even after surveys revealed the first factory-sector expansion in 11 months and faster service-sector growth.
With geopolitical tensions elevated and U.S. monetary policy still restrictive, traders remain cautious. Any escalation in the Middle East or unexpectedly hawkish remarks from Powell could keep currency volatility high in the days ahead.
