Asian Currencies Mixed as Dollar Holds Near Two-Month High 
European Stocks Fall as Bond Yields and Geopolitical Risks Weigh 
US Comfortable With Canada Trade Standoff as Import Bans Loom 
Gold Holds Near $4,275 as Rising Treasury Yields Fuel Fed Rate Hike Bets 
Fed’s Hammack Says Bond Yield Surge Is Not Driven by Inflation Fears 
Gold Prices Fall as Treasury Yields Rise on Fed Rate Hike Bets 
Japanese Yen Rebounds as Trump Flags Currency Weakness 
Oil Prices Fall on U.S.-Iran Hormuz Deal Hopes 
US Stock Futures Fall as Treasury Yields Surge Ahead of Trump-Xi Summit 
U.S. Treasury Yields Surge as 30-Year Hits 22-Year High 
Fed Unveils Stablecoin Rules Under GENIUS Act 
U.S. Dollar Hits Two-Month High as Oil, Treasury Yields Surge 
Dollar Holds Near Two-Month High as Yen Approaches 160 
Asian Stocks Fall as Bond Yields Surge Ahead of Trump-Xi Summit 
Soybean Futures Slip as Traders Await Trump-Xi Trade Signals 
RBI Uses $10 Billion Currency Swaps to Drain Excess Rupee Liquidity 
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The U.S. dollar extended gains against the yen for a third consecutive day on Wednesday, boosted by rising U.S. yields and renewed trade tensions. President Donald Trump announced 25% tariffs on Japan and other nations, with more trade-related proclamations expected. Trump stated that "a minimum of 7 countries" will be addressed in new announcements, fueling speculation on further tariffs or deals.
The dollar rose 0.2% to 146.85 yen, hitting a two-week high, as markets priced in higher U.S. yields and fiscal concerns in Japan ahead of the July 20 upper house elections. IG analyst Tony Sycamore noted stalled U.S.-Japan talks, largely due to Japan’s rice market protections, which remain a sticking point.
The dollar index held steady at 97.582 after two days of gains, reflecting strength across major peers. The euro remained flat at $1.1720, while the British pound slipped 0.1% to $1.35795. The Australian dollar dipped to $0.6526, while New Zealand’s kiwi traded at $0.5993.
Trump’s tariff plans include a 50% duty on imported copper, with semiconductors and pharmaceuticals also targeted in upcoming measures. Meanwhile, the European Union is reportedly seeking exemptions from the 10% U.S. baseline tariff, according to EU sources.
Bank of Japan board member Junko Koeda voiced concerns about inflationary pressures from rising rice prices, which could have second-round effects on core inflation. Separately, U.S. Treasury Secretary Scott Bessent will skip the G20 finance meeting in South Africa but is set to attend the World Expo 2025 in Osaka, Japan.
As global markets react to trade policy shifts and currency movements, investors remain focused on central bank responses and geopolitical developments.
