Australian Household Spending Rebounds Strongly in May as Travel and Dining Drive Consumer Growth 
South Korea’s KOSPI Plunges as Apple Price Hikes and OpenAI IPO Delay Shake AI Chip Stocks 
Oil Prices Drop as Strait of Hormuz Shipping Recovers 
S&P Affirms Brazil’s BB Credit Rating with Stable Outlook Amid Fiscal Challenges 
Wall Street Ends Mixed as Micron Surges, Apple Drops After Price Hikes 
Japan Signals Preference for Low Interest Rates as BOJ Policy Debate Intensifies 
BOJ Hawk Signals Faster Interest Rate Hikes Amid Inflation Risks 
Oil Prices Rebound as Strait of Hormuz Tensions Return After Ship Attack Near Oman 
SpaceX Eyes Starlink Mobile Phone Service to Challenge Verizon, AT&T, and T-Mobile 
US Dollar Slips After PCE Inflation Data Eases Fed Rate Hike Expectations 
Morgan Stanley Sees Chinese Auto Market Recovery Gaining Momentum in Late Summer 
Iran Attack in Strait of Hormuz Pushes Oil Prices Higher 
South Korea’s KOSPI Jumps Over 5% as Samsung, SK Hynix Rally on Micron Earnings Boost 
Asian Currencies Trade Mixed as Yen Hovers Near 40-Year Low, Dollar Holds Firm on Fed Outlook 
Gold Prices Fall Below $4,000 as Strong Dollar, Fed Rate Hike Bets Weigh on Bullion 
Gold Prices Rise Above $4,000 as Inflation Data and Weaker Dollar Boost Demand 
Trump Threatens 100% Tariffs on Countries Imposing Digital Services Taxes on U.S. Tech Firms 
The U.S. dollar weakened on Tuesday as Asian markets reacted to renewed uncertainty surrounding President Donald Trump’s tariff policy and its potential fallout on global trade. Investors reassessed currency positions after the U.S. Supreme Court ruled that Trump’s use of a 1977 emergency law to impose tariffs exceeded presidential authority, reigniting volatility across forex markets.
The dollar index, which tracks the greenback against a basket of major currencies, held steady at 97.69 after falling as much as 0.45% in the previous session. The euro edged up 0.07% to $1.1793, while the Japanese yen slipped 0.03% to 154.71 per dollar. Market participants are closely watching USD/JPY movements after Japan’s Nikkei newspaper reported that U.S. authorities conducted rate checks in January to support the yen, signaling possible currency intervention.
Trade tensions escalated after Trump announced plans to raise a temporary tariff on U.S. imports from 10% to 15%, the maximum allowed under the law. He also warned that countries attempting to renegotiate trade deals following the Supreme Court ruling could face even steeper duties. According to the Wall Street Journal, Washington is considering additional national security tariffs targeting sectors such as industrial chemicals, large-scale batteries, power grid equipment, and telecom infrastructure.
The European Parliament postponed a vote on the European Union–U.S. trade agreement, while Japan requested assurances that new U.S. tariff measures would not disadvantage Tokyo compared to last year’s deal.
Broader market sentiment remains fragile as investors weigh artificial intelligence investment sustainability, persistent inflation concerns, and Federal Reserve policy signals. The Fed is widely expected to keep interest rates unchanged until at least June, with policymakers monitoring upcoming labor market data.
In currency markets, the Australian dollar rose 0.1% to $0.7061, and the New Zealand dollar gained 0.08% to $0.5961. In cryptocurrencies, bitcoin climbed 0.6% to $64,961.86, while ether advanced 0.2% to $1,866.88, reflecting cautious but resilient investor appetite.
