Australia Unemployment Hits Five-Year High Despite Strong Jobs Growth 
Mexico-US Trade Talks Delayed to October as Tariff Negotiations Continue 
U.S. 10-Year Treasury Yield Hits 2007 High as Fed Rate Hike Bets Rise 
Japanese Bank Stocks Surge as Bond Yields Fuel Rate Hike Bets 
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 
European Stocks Fall as Bond Yields and Geopolitical Risks Weigh 
RBI Uses $10 Billion Currency Swaps to Drain Excess Rupee Liquidity 
Gold Holds Near $4,275 as Rising Treasury Yields Fuel Fed Rate Hike Bets 
Dollar Holds Near Two-Month High as Yen Approaches 160 
Japan Private-Sector Growth Slows as Domestic Demand Weakens 
Oil Prices Surge as U.S.-Iran Diplomacy Hopes Fade 
South Korea, US Discuss Warship Building Cooperation 
US 10-Year Treasury Yield at 6% Emerges as New Market Risk Threshold 
U.S. Dollar Hits Two-Month High as Oil, Treasury Yields Surge 
Asian Stocks Fall as Bond Yields Surge Ahead of Trump-Xi Summit 
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Most Asian currencies declined on Thursday as the U.S. dollar staged a recovery, driven by renewed safe-haven demand following President Donald Trump's comments signaling a further escalation in the U.S.-Iran conflict. Trump indicated that military operations against Iran would intensify over the next two to three weeks, with no clear path toward a ceasefire, quickly reversing the cautious optimism that had earlier pressured the dollar and lifted regional currencies.
The U.S. Dollar Index climbed 0.3% during Asian trading hours, with futures contracts mirroring the same gain. Rebounding oil prices added to market unease, reinforcing concerns over persistent inflation and a more hawkish Federal Reserve stance going forward.
Across Asia, currency pairs broadly moved in favor of the dollar. The South Korean won weakened the most, with USD/KRW rising 0.6%, while the Japanese yen slipped 0.3%. The Chinese yuan edged 0.2% lower onshore, and the Singapore dollar fell 0.3% against the greenback. The Indian rupee held relatively steady at 93.24 per dollar, having already hit a record low of 95.22 earlier in the week. India's central bank, the Reserve Bank of India, moved to stabilize the rupee by restricting banks from offering rupee non-deliverable forward contracts to both resident and non-resident clients, targeting offshore speculative activity against the currency.
The Australian dollar slid 0.5% despite upbeat trade figures. Australia's trade surplus widened to A$5.69 billion in February, exceeding forecasts, as exports grew 4.9% and imports contracted 3.2%. However, broader risk-off sentiment overshadowed the positive data.
Market attention now shifts to Friday's U.S. nonfarm payrolls report, a key indicator that could significantly shape expectations around Federal Reserve monetary policy and drive further moves in the dollar and Asian currency markets.
