White House Seeks $87.6 Billion Emergency Funding for Iran War, Farmers, and Ebola Response 
US Dollar Slips After PCE Inflation Data Eases Fed Rate Hike Expectations 
BOJ Hawk Signals Faster Interest Rate Hikes Amid Inflation Risks 
Wall Street Ends Mixed as Micron Surges, Apple Drops After Price Hikes 
Asian Currencies Trade Mixed as Yen Hovers Near 40-Year Low, Dollar Holds Firm on Fed Outlook 
Iran Attack in Strait of Hormuz Pushes Oil Prices Higher 
Bank Regulation Rollbacks in the U.S. and UK Could Increase Financial Risks, Study Warns 
World Bank Approves $1.1 Billion Emergency Funding for Bangladesh Amid Food and Energy Price Pressures 
Morgan Stanley Sees Chinese Auto Market Recovery Gaining Momentum in Late Summer 
Australia Jobs Growth Strengthens Rate Hike Outlook 
US Dollar Slips After PCE Inflation Data as Fed Rate Hike Expectations Stay Elevated 
Oil Prices Drop as Middle East Supply Recovery Eases Market Concerns 
Gold Price Ends Lower for Fourth Week Despite Rebound as Fed Rate Hike Bets Strengthen 
Asian Stocks Sink as Apple Price Hikes Spark AI Valuation Fears, South Korea and Japan Lead Selloff 
S&P Affirms Brazil’s BB Credit Rating with Stable Outlook Amid Fiscal Challenges 
Australian Household Spending Rebounds Strongly in May as Travel and Dining Drive Consumer Growth 
The U.S. dollar continued to face pressure on Friday, hovering near six-month lows against the safe-haven yen, as markets reacted to President Donald Trump's aggressive new tariffs and braced for key U.S. economic data.
After plunging 1.9% Thursday—its sharpest drop since November 2022—the U.S. dollar index steadied, but investor sentiment remained fragile. Trump’s announcement of a 10% baseline tariff on all imports, including 20% on EU goods, 24% on Japanese products, and 54% total on Chinese imports, rattled global markets. Both China and the EU vowed retaliation, raising fears of a full-scale trade war that could tip the global economy into recession and fuel inflation.
The dollar weakened 0.15% to 145.89 yen after dropping 2.2% the previous session, touching a low not seen since early October. The euro edged up 0.08% to $1.1060, while sterling held steady at $1.3103. Offshore, the yuan eased 0.13% to 7.2686 despite China’s market holiday.
Investors now await the U.S. nonfarm payrolls report, expected to show a slowdown in job growth to 135,000 in March. A weaker report could solidify expectations for Federal Reserve rate cuts. Traders are pricing in four quarter-point cuts this year, starting as early as June.
Yields on two-year U.S. Treasuries dropped further, slipping 6 basis points to 3.6611% after an 18-point plunge on Thursday. Fed Chair Jerome Powell is also set to speak later Friday, which could provide more insight into the central bank’s monetary policy stance.
Risk-sensitive currencies like the Australian and New Zealand dollars remained weak, while bitcoin climbed 0.9% to over $83,000, showing resilience amid broader market volatility.
