Oil Prices Jump 3% as Houthi Attack Revives Supply Fears 
Fed Unveils Stablecoin Rules Under GENIUS Act 
Asian Stocks Fall as Surging Bond Yields Rattle Markets 
Dollar Holds Near Two-Month High as Yen Approaches 160 
UK PM Burnham to Unveil Economic Vision at Labour Conference 
European Stocks Fall as Bond Yields and Geopolitical Risks Weigh 
US 10-Year Treasury Yield at 6% Emerges as New Market Risk Threshold 
China Agrees to Buy 20 Million Tons of U.S. Coal 
Japanese Yen Rebounds as Trump Flags Currency Weakness 
Soybean Futures Slip as Traders Await Trump-Xi Trade Signals 
Dollar Falls as Oil Eases, Yen Jumps on Intervention Signals 
Asian Currencies Mixed as Dollar Holds Near Two-Month High 
Wall Street Ends Flat as Oil, Treasury Yields and Fed Jitters Rattle Markets 
Japanese Bank Stocks Surge as Bond Yields Fuel Rate Hike Bets 
US Comfortable With Canada Trade Standoff as Import Bans Loom 
Gold Prices Fall as Treasury Yields Rise on Fed Rate Hike Bets 
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The U.S. dollar softened on Thursday after the Federal Reserve signaled potential interest rate cuts later this year, while uncertainty surrounding U.S. tariffs weighed on markets. Meanwhile, the British pound hit a four-month high ahead of the Bank of England’s policy decision.
The Fed maintained its benchmark rate at 4.25%-4.50% and projected two quarter-point cuts this year, aligning with previous forecasts despite expectations of slower growth and persistent inflation. Fed Chair Jerome Powell emphasized a cautious approach, stating, "We’re not in a hurry to move," as policymakers assess economic risks, including the impact of President Donald Trump’s proposed tariffs.
Traders anticipate two 25-basis-point rate cuts in 2025, with a July reduction fully priced in, according to LSEG data. Analysts suggest that the Fed is balancing inflation concerns with potential economic slowdown risks, contributing to a weaker dollar and rising stock markets.
The dollar index remained steady at 103.41 but hovered near a five-month low. The euro traded at $1.0908, while the yen strengthened to 148.36 per dollar following the Bank of Japan’s decision to hold rates steady amid global uncertainty. Sterling touched $1.3015 as the BoE prepared to maintain rates while navigating persistent inflation above its 2% target.
Turkey’s lira plunged to a record low of 42 per dollar before recovering to 37.665 after authorities detained President Erdogan’s political rival. In early trading, it stood at 38 per dollar.
Elsewhere, the Australian dollar fell 0.35% to $0.6335 following a surprise drop in employment figures. Despite a recent rate cut by the Reserve Bank of Australia, policymakers remain cautious about further easing due to ongoing labor market strength and inflation concerns.
