Russian Envoy Dmitriev Heads to US for Ukraine Talks 
Dollar Holds Near Two-Month High as Yen Approaches 160 
US Stock Futures Fall as Treasury Yields Surge Ahead of Trump-Xi Summit 
Oil Prices Ease as Iran Tensions Clash With Diplomacy Hopes 
Asian Stocks Fall as Bond Yields Surge Ahead of Trump-Xi Summit 
Asian Currencies Mixed as Dollar Holds Near Two-Month High 
Trump, Xi Focus on Trade and AI at White House Summit 
US, China Extend Trade Truce to Jan. 10 Ahead of Trump-Xi Summit 
Japan Private-Sector Growth Slows as Domestic Demand Weakens 
Gold Prices Fall as Treasury Yields Rise on Fed Rate Hike Bets 
Gold Holds Near $4,275 as Rising Treasury Yields Fuel Fed Rate Hike Bets 
Japanese Bank Stocks Surge as Bond Yields Fuel Rate Hike Bets 
Fed Unveils Stablecoin Rules Under GENIUS Act 
U.S. Treasury Yields Surge as 30-Year Hits 22-Year High 
Wall Street Falls as Treasury Yields Surge, Oil Rebounds on Iran Tensions 
Oil Prices Jump 3% as Houthi Attack Revives Supply Fears 
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The U.S. dollar regained its footing against major currencies on Tuesday after pulling back from recent highs, following President Donald Trump's statement that the Iran conflict could conclude "very soon." Despite the partial recovery, global financial markets remain on edge as Iran's Revolutionary Guards publicly rejected Trump's remarks as "nonsense," keeping geopolitical tensions firmly in focus.
In Asian trading, the greenback held at 157.73 yen and $1.1632 per euro, retreating slightly from Monday's peaks. The currency had surged earlier as investors sought safe-haven assets amid fears that an extended Iran war could trigger a severe global energy crisis. U.S. and Israeli military operations have effectively halted oil and gas exports through the critical Strait of Hormuz, sending energy prices into overdrive.
Brent crude futures were trading around $93 per barrel — significantly above pre-conflict levels, though retreating from Monday's near $120 peak. Analysts warn the energy market volatility is far from over. Rodrigo Catril, senior currency strategist at National Australia Bank, cautioned that the path to de-escalation remains uncertain, noting that whether Iran would be open to winding down hostilities is still unclear.
Risk-sensitive currencies bore the brunt of the uncertainty, with the Australian dollar slipping 0.2% to $0.7063 and the New Zealand dollar falling 0.4% to $0.5912. Sterling managed to recover from Monday's losses, holding steady at $1.3434.
Investors are increasingly concerned that persistently high energy prices could dampen global economic growth by driving up business costs and reducing consumer spending, while simultaneously discouraging central banks from cutting interest rates.
Deutsche Bank strategist Henry Allen noted that while markets are inching closer to the thresholds that would trigger broader risk-asset selloffs, equities have yet to reach bear-market territory seen during the 2022 Russia-Ukraine energy shock.
