U.S. Dollar Hits Two-Month High as Oil, Treasury Yields Surge 
Fed Unveils Stablecoin Rules Under GENIUS Act 
Asian Currencies Mixed as Dollar Holds Near Two-Month High 
Soybean Futures Slip as Traders Await Trump-Xi Trade Signals 
Asian Stocks Fall as Bond Yields Surge Ahead of Trump-Xi Summit 
Russian Envoy Dmitriev Heads to US for Ukraine Talks 
Oil Prices Jump 3% as Houthi Attack Revives Supply Fears 
US, China Extend Trade Truce to Jan. 10 Ahead of Trump-Xi Summit 
Japanese Bank Stocks Surge as Bond Yields Fuel Rate Hike Bets 
Dollar Holds Near Two-Month High as Yen Approaches 160 
Wall Street Falls as Treasury Yields Surge, Oil Rebounds on Iran Tensions 
South Korea, US Discuss Warship Building Cooperation 
Japan Private-Sector Growth Slows as Domestic Demand Weakens 
Wall Street Ends Flat as Oil, Treasury Yields and Fed Jitters Rattle Markets 
Mexico-US Trade Talks Delayed to October as Tariff Negotiations Continue 
Gold Prices Fall as Treasury Yields Rise on Fed Rate Hike Bets 
China’s ‘Lipstick King’ Says AI Won’t Replace Livestream Hosts 
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The U.S. dollar strengthened on Thursday as investors increased expectations that the Federal Reserve could raise interest rates again later this year following stronger-than-expected economic data. Fresh inflation figures and resilient retail sales reinforced confidence in the U.S. economy, helping the greenback climb against major global currencies.
The U.S. Dollar Index, which measures the currency against six major peers, advanced 0.3% to 98.82. Market sentiment shifted after recent consumer price index (CPI) and producer price index (PPI) reports showed inflation pressures remain elevated. April retail sales also increased 0.5%, matching analyst expectations, although growth slowed compared to March’s stronger gain. Economists noted that consumers continue spending despite higher fuel costs and inflation concerns, signaling ongoing economic resilience.
Rising oil prices linked to Middle East tensions have also influenced inflation expectations, reducing hopes for potential Federal Reserve rate cuts. Higher interest rates typically support the U.S. dollar by attracting global investors seeking stronger returns.
Attention also turned to President Donald Trump’s visit to China, where trade talks, artificial intelligence cooperation, and discussions surrounding Iran dominated headlines. Chinese President Xi Jinping reportedly expressed willingness to assist diplomatic efforts regarding the Middle East crisis, while investors monitored potential progress in U.S.-China trade relations. Reports suggesting the U.S. approved several Chinese firms to purchase Nvidia’s H200 AI chips further boosted market optimism. Boeing shares also benefited after Trump announced China agreed to purchase 200 aircraft from the American manufacturer.
In currency markets, the British pound weakened despite stronger UK GDP growth data, while the euro and Japanese yen also lost ground against the dollar. The Chinese yuan, however, remained near multi-year highs following positive sentiment surrounding the summit discussions.
