European Stocks Fall as Bond Yields and Geopolitical Risks Weigh 
Fed Unveils Stablecoin Rules Under GENIUS Act 
Asian Stocks Fall as Surging Bond Yields Rattle Markets 
Mexico-US Trade Talks Delayed to October as Tariff Negotiations Continue 
RBI Uses $10 Billion Currency Swaps to Drain Excess Rupee Liquidity 
Fed Unveils Stablecoin Rules Under GENIUS Act 
Japanese Bank Stocks Surge as Bond Yields Fuel Rate Hike Bets 
Soybean Futures Slip as Traders Await Trump-Xi Trade Signals 
US Stock Futures Fall as Treasury Yields Surge Ahead of Trump-Xi Summit 
Asian Currencies Mixed as Dollar Holds Near Two-Month High 
Wall Street Ends Flat as Oil, Treasury Yields and Fed Jitters Rattle Markets 
U.S. Dollar Hits Two-Month High as Oil, Treasury Yields Surge 
UK PM Burnham to Unveil Economic Vision at Labour Conference 
Dollar Holds Near Two-Month High as Yen Approaches 160 
Dollar Falls as Oil Eases, Yen Jumps on Intervention Signals 
Oil Prices Fall on U.S.-Iran Hormuz Deal Hopes 
Fed’s Hammack Says Bond Yield Surge Is Not Driven by Inflation Fears 
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The U.S. dollar hovered near an 11-week low on Wednesday, weighed down by falling short-term Treasury yields following weak economic data. Meanwhile, the yen strengthened as investors sought safety amid escalating trade tensions, while the Canadian dollar neared a two-week low.
The U.S. dollar index dipped 0.1% to 106.17, approaching Monday’s low of 106.13, the weakest level since December 10. The greenback’s decline follows disappointing U.S. economic indicators, including a steep drop in consumer confidence. The Conference Board reported a decline to 98.3, missing economists’ forecasts of 102.5, marking the largest fall since August 2021.
Market expectations for Federal Reserve rate cuts have intensified, with traders now pricing in two quarter-point cuts this year, potentially starting in July. The two-year U.S. Treasury yield slid to 4.086%, nearing its lowest level since November 1. Treasury Secretary Scott Bessent noted that economic fragility is more pronounced than surface metrics suggest, citing inflation and government-driven job growth.
The yen gained, with the dollar slipping 0.1% to 148.865 yen, approaching Tuesday’s low of 148.56, its weakest since October. The euro inched up 0.1% to $1.0520, while sterling held steady at $1.2669, close to a two-month peak. The Australian dollar eased to $0.6339 after inflation data signaled no major shift.
Bitcoin dipped 0.5% to $88,246 after a 5.6% drop on Tuesday, driven by market jitters over U.S. tariffs and fallout from a $1.5 billion Bybit hack. Uncertainty surrounding trade policy continues to weigh on risk assets while boosting demand for safe-haven currencies.
