South Korea’s KOSPI Plunges as Apple Price Hikes and OpenAI IPO Delay Shake AI Chip Stocks 
Asian Currencies Trade Mixed as Yen Hovers Near 40-Year Low, Dollar Holds Firm on Fed Outlook 
U.S. Dollar Reaches One-Year High as Tech Sell-Off and Fed Rate Hike Expectations Support Demand 
US Dollar Slips After PCE Inflation Data Eases Fed Rate Hike Expectations 
Malaysia Central Bank Moves to Support Ringgit Amid Foreign Fund Outflows 
Oil Prices Drop as Strait of Hormuz Shipping Recovers 
Iran Attack in Strait of Hormuz Pushes Oil Prices Higher 
Oil Prices Drop as Middle East Supply Recovery Eases Market Concerns 
Wall Street Ends Mixed as Tech Stocks Struggle Ahead of Micron Earnings 
SpaceX Eyes Starlink Mobile Phone Service to Challenge Verizon, AT&T, and T-Mobile 
Gold Prices Fall Below $4,000 as Strong Dollar, Fed Rate Hike Bets Weigh on Bullion 
Asian Stocks Sink as Apple Price Hikes Spark AI Valuation Fears, South Korea and Japan Lead Selloff 
BOJ Hawk Signals Faster Interest Rate Hikes Amid Inflation Risks 
Bessent Says U.S. Must Strengthen Supply Chains and Economic Security 
Morgan Stanley Sees Chinese Auto Market Recovery Gaining Momentum in Late Summer 
Oil Prices Rebound as Strait of Hormuz Tensions Return After Ship Attack Near Oman 
Bank Regulation Rollbacks in the U.S. and UK Could Increase Financial Risks, Study Warns 
The U.S. dollar slipped on Wednesday as investors shifted away from safe-haven assets and moved toward riskier investments following renewed optimism over a possible peace agreement between Washington and Tehran. The decline came as reports suggested the White House and Iran were nearing a framework agreement that could ease tensions in the Middle East and reduce pressure on global oil markets.
The U.S. Dollar Index, which measures the greenback against a basket of major currencies, fell by 0.4% to 98.05. Market sentiment improved after reports indicated that both nations were discussing a temporary nuclear agreement that could eventually lead to sanctions relief and the release of frozen Iranian assets. Investors also reacted positively to signs that restrictions surrounding the Strait of Hormuz may be eased, helping calm fears over disruptions to global oil supplies.
President Donald Trump stated that if Iran accepts the proposed terms, tensions could significantly decline and commercial transit through the Strait of Hormuz would reopen fully. However, he warned that military action could intensify if negotiations fail. The developments pushed oil prices slightly lower, although prices remain elevated compared to pre-conflict levels. Analysts believe lower oil prices could weaken the dollar further by reducing the United States’ relative economic advantage in energy markets.
Meanwhile, the Japanese yen strengthened sharply against the dollar as traders anticipated possible currency intervention by Japanese authorities. The yen gained nearly 1%, with investors believing Tokyo may step in again to prevent the USD/JPY pair from rising above the key 160 level. Japanese officials have repeatedly warned against excessive currency speculation in recent weeks.
Elsewhere, the euro and British pound also posted gains against the dollar, while the Australian dollar climbed after Australia’s central bank raised interest rates for a third consecutive meeting.
