Dollar Falls as Oil Eases, Yen Jumps on Intervention Signals 
Fed’s Hammack Says Bond Yield Surge Is Not Driven by Inflation Fears 
Dollar Holds Near Two-Month High as Yen Approaches 160 
US Stock Futures Fall as Treasury Yields Surge Ahead of Trump-Xi Summit 
Wall Street Ends Flat as Oil, Treasury Yields and Fed Jitters Rattle Markets 
Japanese Bank Stocks Surge as Bond Yields Fuel Rate Hike Bets 
RBI Uses $10 Billion Currency Swaps to Drain Excess Rupee Liquidity 
U.S. Dollar Hits Two-Month High as Oil, Treasury Yields Surge 
Gold Prices Fall as Treasury Yields Rise on Fed Rate Hike Bets 
Oil Prices Jump 3% as Houthi Attack Revives Supply Fears 
Fed Unveils Stablecoin Rules Under GENIUS Act 
Asian Stocks Fall as Surging Bond Yields Rattle Markets 
US Comfortable With Canada Trade Standoff as Import Bans Loom 
China Agrees to Buy 20 Million Tons of U.S. Coal 
Soybean Futures Slip as Traders Await Trump-Xi Trade Signals 
US 10-Year Treasury Yield at 6% Emerges as New Market Risk Threshold 
Australia Unemployment Hits Five-Year High Despite Strong Jobs Growth 
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The U.S. dollar held firm on Tuesday following a surprise tariff relief deal between the United States and China that eased fears of a global recession. The agreement, which includes a 90-day rollback of steep tariffs, sparked a global market rally and boosted the dollar against major currencies.
Rodrigo Catril, senior FX strategist at National Australia Bank, noted the deal was “way better than the market was expecting,” highlighting the U.S. administration’s sensitivity to economic risks from trade tensions.
The dollar surged in the previous session, gaining 2.1% against the yen and 1.6% versus the Swiss franc, before slightly pulling back. It last traded at 148.29 yen and 0.8448 Swiss francs. The euro recovered slightly to $1.1095 after falling 1.4% Monday. Catril suggested the euro and yen may see further weakness in the coming weeks.
Sterling was little changed at $1.3178, while the Australian and New Zealand dollars hovered near recent lows at $0.6374 and $0.5862, respectively. The U.S. dollar index held near a one-month high at 101.67.
The easing of trade tensions also led traders to scale back expectations for Federal Reserve interest rate cuts. U.S. Treasury yields rose, with the two-year yield near a one-month high at 3.9977% and the 10-year yield at 4.4551%. Markets now expect around 56 basis points of Fed cuts by year-end.
David Doyle of Macquarie noted that the Fed’s focus on uncertainty may persist, though the tariff deal reduces some downside risk.
In crypto markets, Bitcoin traded at $102,590.75, near a recent high, while Ether dipped 0.4% to $2,476.21.
