Wall Street Ends Flat as Oil, Treasury Yields and Fed Jitters Rattle Markets 
UK PM Burnham to Unveil Economic Vision at Labour Conference 
Mexico-US Trade Talks Delayed to October as Tariff Negotiations Continue 
US 10-Year Treasury Yield at 6% Emerges as New Market Risk Threshold 
Japanese Bank Stocks Surge as Bond Yields Fuel Rate Hike Bets 
Fed Unveils Stablecoin Rules Under GENIUS Act 
Asian Currencies Mixed as Dollar Holds Near Two-Month High 
RBI Uses $10 Billion Currency Swaps to Drain Excess Rupee Liquidity 
Trump, Xi Focus on Trade and AI at White House Summit 
European Stocks Fall as Bond Yields and Geopolitical Risks Weigh 
US Stock Futures Fall as Treasury Yields Surge Ahead of Trump-Xi Summit 
Dollar Holds Near Two-Month High as Yen Approaches 160 
Australia Unemployment Hits Five-Year High Despite Strong Jobs Growth 
Oil Prices Jump 3% as Houthi Attack Revives Supply Fears 
Fed’s Hammack Says Bond Yield Surge Is Not Driven by Inflation Fears 
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Asian currencies slipped on Thursday as the U.S. dollar strengthened, fueled by market uncertainty over President Donald Trump’s tariff plans and anticipation of key U.S. inflation data. The U.S. Dollar Index climbed 0.2% in Asian trading, extending gains from its two-month low earlier this week, while dollar index futures rose 0.3%.
Currency markets reacted negatively to Trump’s reaffirmation of a 25% tariff on imports from Canada and Mexico. While the initial deadline was March 4, he hinted at a possible delay until April 2, adding to investor uncertainty. This lack of clarity triggered risk aversion, leading to capital outflows from emerging markets and weakening Asian currencies.
The South Korean won (USD/KRW) and Indonesian rupiah (USD/IDR) both fell 0.6%, leading regional losses. The Indian rupee (USD/INR) slipped 0.3%, while the Australian dollar (AUD/USD) dropped 0.2%. The offshore Chinese yuan (USD/CNH) climbed 0.3%, while the onshore yuan (USD/CNY) edged up 0.1%. The Japanese yen (USD/JPY) and Singapore dollar (USD/SGD) rose 0.2% and 0.3%, respectively.
Investors are also closely watching Friday’s U.S. Personal Consumption Expenditures (PCE) inflation data, the Federal Reserve’s preferred inflation gauge. Recent weaker-than-expected U.S. services PMI and consumer sentiment reports have fueled speculation of potential rate cuts, though immediate policy shifts remain unlikely.
Meanwhile, China’s upcoming “Two Sessions” in early March will be a key event for global markets. Policymakers are expected to maintain last year’s growth target while focusing on boosting domestic demand. Analysts anticipate policy signals that could impact regional markets, as China navigates geopolitical and economic challenges.
