U.S. Treasury Yields Surge as 30-Year Hits 22-Year High 
Australia Unemployment Hits Five-Year High Despite Strong Jobs Growth 
Asian Currencies Mixed as Dollar Holds Near Two-Month High 
Japanese Yen Rebounds as Trump Flags Currency Weakness 
China Agrees to Buy 20 Million Tons of U.S. Coal 
Asian Stocks Fall as Surging Bond Yields Rattle Markets 
Fed Unveils Stablecoin Rules Under GENIUS Act 
Wall Street Ends Flat as Oil, Treasury Yields and Fed Jitters Rattle Markets 
European Stocks Fall as Bond Yields and Geopolitical Risks Weigh 
Oil Prices Jump 3% as Houthi Attack Revives Supply Fears 
Fed’s Hammack Says Bond Yield Surge Is Not Driven by Inflation Fears 
Japanese Bank Stocks Surge as Bond Yields Fuel Rate Hike Bets 
Dollar Holds Near Two-Month High as Yen Approaches 160 
Soybean Futures Slip as Traders Await Trump-Xi Trade Signals 
US Stock Futures Fall as Treasury Yields Surge Ahead of Trump-Xi Summit 
Gold Holds Near $4,275 as Rising Treasury Yields Fuel Fed Rate Hike Bets 
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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.
