Gold Price Ends Lower for Fourth Week Despite Rebound as Fed Rate Hike Bets Strengthen 
Oil Prices Rise as US-Iran Tensions Threaten Strait of Hormuz Oil Shipments 
Asian Stocks Sink as Apple Price Hikes Spark AI Valuation Fears, South Korea and Japan Lead Selloff 
Wall Street Ends Lower as AI Stocks Drag Markets, Fed Rate Outlook Shifts 
Oil Prices Drop as Strait of Hormuz Shipping Recovers 
World Bank Approves $1.1 Billion Emergency Funding for Bangladesh Amid Food and Energy Price Pressures 
Bank Regulation Rollbacks in the U.S. and UK Could Increase Financial Risks, Study Warns 
Morgan Stanley Sees Chinese Auto Market Recovery Gaining Momentum in Late Summer 
SpaceX Eyes Starlink Mobile Phone Service to Challenge Verizon, AT&T, and T-Mobile 
Oil Prices Rebound as Strait of Hormuz Tensions Return After Ship Attack Near Oman 
Asian Markets Rally as Micron and Qualcomm AI Outlook Lifts Global Tech Stocks 
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 
S&P Affirms Brazil’s BB Credit Rating with Stable Outlook Amid Fiscal Challenges 
US Dollar Slips After PCE Inflation Data as Fed Rate Hike Expectations Stay Elevated 
Iran Attack in Strait of Hormuz Pushes Oil Prices Higher 
Asian currencies rallied on Monday, led by the Japanese yen and Australian dollar, after the U.S. dollar tumbled to a three-year low. The drop followed President Donald Trump’s proposed overhaul of the Federal Reserve, sparking investor uncertainty.
The U.S. Dollar Index plunged 1.2% to 98.18 in Asian trading, its weakest level since March 2022. The decline was driven by comments from White House economic advisor Kevin Hassett, who confirmed that Trump is reviewing whether he can dismiss Fed Chair Jerome Powell. The potential threat to Fed independence rattled markets, especially after Powell recently signaled no near-term rate cuts due to inflation concerns and new U.S. tariffs.
The Japanese yen strengthened significantly, with USD/JPY down 1.1%, bolstered by data showing Japan’s core inflation accelerated in March. The AUD/USD pair also surged 0.8%, supported by broader dollar weakness. Other regional currencies posted gains: the Singapore dollar’s USD/SGD fell 0.5%, the South Korean won’s USD/KRW dropped 0.4%, and the Thai baht’s USD/THB slid 0.7%. The Malaysian ringgit’s USD/MYR dipped 0.8%, while India’s USD/INR declined 0.5%.
The Chinese yuan edged higher, with the onshore USD/CNY down 0.2% and the offshore USD/CNH falling 0.3%. The yuan’s move came after the People’s Bank of China left its loan prime rate unchanged, holding the one-year LPR at 3.1% and the five-year at 3.6%. The decision signals China’s focus on fiscal tools over monetary easing amid rising U.S. trade tensions.
The widespread currency gains underscore growing volatility in global forex markets, driven by U.S. political uncertainty and shifting central bank policies.
