Dollar Falls as Oil Eases, Yen Jumps on Intervention Signals 
Fed’s Hammack Says Bond Yield Surge Is Not Driven by Inflation Fears 
Oil Prices Jump 3% as Houthi Attack Revives Supply Fears 
Fed Unveils Stablecoin Rules Under GENIUS Act 
U.S. Dollar Hits Two-Month High as Oil, Treasury Yields Surge 
Wall Street Ends Flat as Oil, Treasury Yields and Fed Jitters Rattle Markets 
Japanese Yen Rebounds as Trump Flags Currency Weakness 
Mexico-US Trade Talks Delayed to October as Tariff Negotiations Continue 
Japanese Bank Stocks Surge as Bond Yields Fuel Rate Hike Bets 
U.S. Treasury Yields Surge as 30-Year Hits 22-Year High 
Canadian Dollar Faces Pressure as Fed-BoC Policy Gap Widens 
Australia Unemployment Hits Five-Year High Despite Strong Jobs Growth 
Fed Unveils Stablecoin Rules Under GENIUS Act 
Dollar Holds Near Two-Month High as Yen Approaches 160 
European Stocks Fall as Bond Yields and Geopolitical Risks Weigh 
Asian Stocks Fall as Bond Yields Surge Ahead of Trump-Xi Summit 
RBI Uses $10 Billion Currency Swaps to Drain Excess Rupee Liquidity 
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Asian stocks edged higher on Wednesday, supported by South Korea's political shift and optimism in tech stocks, even as global markets remain tense over escalating U.S. tariffs on steel and aluminium.
South Korea's KOSPI surged over 2%—its highest since August 2024—following liberal candidate Lee Jae-myung’s presidential win, which raised hopes for swift economic stimulus and regulatory reforms. The Korean won also strengthened, reflecting investor confidence. MSCI’s Asia-Pacific index excluding Japan rose 0.6%, while Japan’s Nikkei gained 0.8% and Taiwan climbed 1.6%, buoyed by Nvidia’s rally on Wall Street.
Market sentiment, however, remained cautious ahead of a potential call between U.S. President Donald Trump and Chinese President Xi Jinping. Tensions have resurfaced after Trump accused China of violating a tariff rollback deal. In response, Beijing pledged to defend its interests.
China’s markets were muted, with the blue-chip index up 0.09% and Hong Kong’s Hang Seng gaining 0.27%. Analysts warned that despite investor fatigue over trade news, further escalation could drive risk aversion.
Adding to market concerns, the U.S. implemented a tariff hike on steel and aluminium to 50% starting Wednesday, dubbed “Liberation Day” tariffs. Investors fear these could be a precursor to broader protectionist measures. The OECD revised its global growth forecast down to 2.9% for 2025–2026, citing the impact of trade tensions.
The U.S. dollar weakened, slipping 0.17% against the yen and 0.1% against the Swiss franc, while the euro rose 0.15%. The dollar index hovered near a six-week low, down 8.5% year-to-date.
In commodities, Brent crude dipped to $65.59, while gold jumped 0.5% to $3,369.59 per ounce, up 28% in 2025, driven by safe-haven demand.
