Mexico-US Trade Talks Delayed to October as Tariff Negotiations Continue 
Australia Unemployment Hits Five-Year High Despite Strong Jobs Growth 
U.S. Treasury Yields Surge as 30-Year Hits 22-Year High 
Asian Currencies Mixed as Dollar Holds Near Two-Month High 
Dollar Holds Near Two-Month High as Yen Approaches 160 
RBI Uses $10 Billion Currency Swaps to Drain Excess Rupee Liquidity 
China’s ‘Lipstick King’ Says AI Won’t Replace Livestream Hosts 
Wall Street Falls as Treasury Yields Surge, Oil Rebounds on Iran Tensions 
Japan Private-Sector Growth Slows as Domestic Demand Weakens 
Oil Prices Jump 3% as Houthi Attack Revives Supply Fears 
Oil Prices Surge as U.S.-Iran Diplomacy Hopes Fade 
U.S. 10-Year Treasury Yield Hits 2007 High as Fed Rate Hike Bets Rise 
US Stock Futures Fall as Treasury Yields Surge Ahead of Trump-Xi Summit 
Gold Prices Fall as Treasury Yields Rise on Fed Rate Hike Bets 
Asian Stocks Fall as Surging Bond Yields Rattle Markets 
Trump, Xi Focus on Trade and AI at White House Summit 
Fed Unveils Stablecoin Rules Under GENIUS Act 
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Global currency markets shifted cautiously on Wednesday as easing crude oil prices offered a brief respite from recent volatility, lifting risk appetite just ahead of a series of major central bank policy decisions. The U.S. dollar paused its recent rally, with the dollar index edging marginally higher by 0.06% to 99.61 after two consecutive days of losses.
The Japanese yen held near historically sensitive levels, trading at 159.00 per dollar, as markets monitored developments surrounding Japanese Prime Minister Sanae Takaichi's scheduled meeting with U.S. President Donald Trump in Washington. Analysts from Mizuho Securities noted that the Takaichi administration may actually prefer a weaker yen, suggesting limited room for significant USD/JPY downside. The euro dipped slightly to $1.1532 ahead of the European Central Bank's two-day policy meeting, while sterling remained stable at $1.3355.
The broader market context remains shaped by the ongoing Middle East conflict, now entering its third week. The crisis has driven demand for safe-haven assets, pushing the dollar to a 10-month peak late last week as rising oil prices stoked inflation concerns. A reported rise in U.S. crude inventories, based on American Petroleum Institute data, helped temper those pressures temporarily.
The Federal Reserve is expected to announce its rate decision Wednesday, with the ECB, Bank of England, and Bank of Japan all following Thursday. None are anticipated to change rates, though investor attention will be fixed on forward guidance around inflation and economic growth. Markets currently price in roughly 25 basis points of Fed cuts for the year, while expectations for ECB rate hikes in 2026 have grown sharply since the conflict began.
Commodity-linked currencies gained modest ground, with the Australian dollar rising 0.1% to $0.7109 and the New Zealand dollar up 0.05% to $0.586. In crypto markets, Bitcoin slipped 0.40% to $74,257.80, while Ethereum gained 0.22% to $2,333.60.
